I'm in the 'Much of it is comedy gold...some of it is kinda meh' camp - but that's only reasonable - no comedy group can be on the top of their game *all* the time.
In short: Monty Python = awesome, but not *always*.
What I really can't stand are the people who are like Python weaboos, and spend all their time endlessly quoting the stuff. A well placed monty python quote is hilarious and nostalgic. Watching two university-age guys sit in the corner of a room, heads together, quoting monty python at each other, verbatim, Every Single Day, because they thing it makes them witty and highbrow (???)...that's just sad. Especially since I think that if the Monty Python crew heard that you thought their stuff was highbrow, they'd immediately create a sketch taking the piss out of you...