This is a hard one. It can be funny, boring, manic, meandering, simplistic, complex... think of a contradiction and it manages it.
It took me months to start watching it again after the first few episodes, but when I did I got through the rest in a few weeks, though I found myself growing comfortable with it more than outright enjoying it.
Basically Nadesico is a combination space-mecha/comedy/romance, which at times takes itself quite seriously, and then undercuts itself with its cast of absurd characters behaving like 10 year-olds. The plot is far too complex to go into here in any useful detail, but read the profile page. It's as good a brief account as any.
It gets a pass on the animation, which is decent for 1997, but nothing great. To be honest, I didn't really notice the music, which probably means it was quite ok, and blended well into the show. I'm somewhat more inclined to remember soundtracks that annoy me than ones which are breathtaking (quite probably because there more of them).
On the negative side, most of the characters are quite ridiculous, and whereas this works ok in the silly bits, it's hard to forget about it when the dramatic bits come up. For instance, the captain, Yurika (virtually all the crew are, naturally, young teenage girls, ala 'Robotech') is such a completely clueless ditz that the idea of her captaining a huge starship for even ten minutes is laughable. Which is fine when it's actually meant to be laughable. The main male characte r (who naturally is adored by nearly every female on the ship) gets incredibly annoying with his endless procastinating about things, especially sex. The only way that any guy could be so traumatised by having women endlessly flinging themselves at him is if he were gay, which evidentally he isn't. Of course this is a send-up of an anime trope as well.
That's probably what saves Nadesico from being a real bore. It has some genuinely funny, ironic and parodic moments. Two that stand out are where the recap episode starts with a group of fans watching the show and complainig that it's a recap episode. I also liked where one of the characters makes an aside to the audience, her friends asks, "Who are you talking to?", and she says, "The fourth wall".
But although it certainly wasn't a bad anime, these moments weren't enough to make it a really good one either. I was ready to give it 2.5 stars, but I was disappointed by the ending, which doesn't really wrap things up. The narrator tells us this will probably happen in 'the inevitable sequel', except there never was one (well, there was a movie, apparently, but no second series.)
Also there was altogether too much shouting and shrieking and general mania for my tastes. I agree with the fact that the thing moves too fast (though it can also move quite slowly), but compared with things like FLCL or Excel Saga, it's positively sedate.
If you like Macross/Robotech/mecha type parodies, and harem romance/comedies, this will be up your alley, as it combines the whole lot. For me it was watchable, but not much more.