I liked Stella when it first came out, and was disappointed when it wasn't renewed. However, I like this show even MORE. It's kinda like the Tenacious D HBO episodes, where it's a show within a show, with Michael & Michael talking to the audience throughout the episodes. The sketches are definitely some of the best I've seen in a long time, examples including: Michael & Michael having an air "fight" where neither person actually hits the other, a sweatpants store for depressed people, "Same Age Couples", the Rabbit Stomping Competition, "British Fork Offerer", and so much more. What really drives the show is the great chemistry between MIB and Show. They have this passive aggressive way of insulting each other and others, which really makes things work.
Anyway, I have to say this is Comedy Central's best new show since 2005. If you like Stella, Reno 911, The Hollow Men, and Tenacious D, you'll like this.