the most part, Queen's Blade is everything you expect it to be:
fanservice upon fanservice laden with fanservice and a touch of
fanservice on the side. Acid-shooting boobies, the most unlikely chain
mail you've ever seen, yuri twincest, the works-- it's all here.
there isn't a lot to say about it. The characters are flat (as in
they're not developed personas-- they're all perfectly buxom, natch).
The animation's decent, since visuals are the key here. But I doubt
there's going to be much of anything worth watching in the future
episodes of the show.
That said, it IS very over-the-top (I
can't decide whether it's a shame that they didn't take it a more
comedic direction, intentionally anyway), so you and your friends might
get some LULZ out of watching the first episode and mocking it all the
way through, a la Mystery Science Theater 3000.