Well that was fun! I wouldn't want to hear live-recordings frequently, but as an occasional episode it worked very well to spice up the mix! Also, it would be really cool to actually be able to attend a live recording, wouldn't it?
The live audience laughing was a nice touch, made it more like seeing a live theatre performance where everything is funnier when other people are laughing with you. Makes me think back to my college days when I was a sometimes performer in drama club. There was one particular faculty member with a particularly loud, easily-provoked, contagious laugh, and whenever she would come the play that night was twice as good as any other night, because she would laugh at a joke, and the other audience members would feed off her and laugh louder, and the cast would grow more confident and make the punchlines even better, and I loved that aspect so much.
I have trouble watching reruns of old TV shows when recorded laugh lines were the norm. those lines must have been recorded by the writers themselves "Here's my joke, now cue laughter!" because they were always after the canned predictable humor, never after anything that was really funny. Live audiences are so much better because it's the audience not the production crew that's timing it.
I LOVED the chorus voice of the farm, especially the mixed male/female aspect. Whether they were in sync or not in sync I just loved that part, and combined with their bizarro weird lines I cracked up whenever the Farm was onscreen.
The parts where the farm wasn't onscreen were a little slow, if only in comparison to the Farm. The pot-smoking dog was kind of funny but I had trouble understanding what he was saying. Overall the story wasn't bad, though the Farm humor makes the whole thing more than worthwhile. As eytanz pointed out, there just wasn't much to the characters, just heaps and heaps of ideas piled atop one another. The ideas were cool enough that it more or less worked, but having more compelling characters could have really made a good story transcend.