It's pretty gorgeous - I've never seen the original issues in the wild, but the production on this reprint (2nd in a series of Kurtzman 'essentials' by Dark Horse) is top-notch.
As a kid who grew up with the MAD of the 70s (along with a lot of reprints in super specials with material from long past the Kurtzman era), his type of humor was a lot less slapdash and took a lot more thinking to appreciate. Definitely for a more contemporary adult audience. A lot of the references fall flat due to time, or become more like historical curiosities rather than biting satire.
But good gravy, the artwork is beautiful. I'm a big fan of all of the folks represented in these issues, and I can really understand why they were over budget and had difficulty with deadlines. Probably some of Will Elder's finest work, to be certain.