Hayate The Combat Butler's third volume puts it strongly in the position of the "Light Beer" of comedy manga. The volume has a lot of one-shot little stories, and a brief over-arching plot, but doesn't get too ambitious. While this means the reach of the series doesn't exceed its grasp, it also means that the series is never at risk of blowing your mind.
That said, the volume does succeed at presenting a series of legitimately funny little one-shots that keep things interesting, with everything from brief little one-shots (like Hayate saying "Meow?" when Nagi storms into his room), to an extremely funny story that seems to exist solely to set up a pun, but pays off later in the volume (what is known as a "Brick Joke").
Thus far, Hayate The Combat Butler has yet to become the best comedy manga ever. However, it is still a well written comedy manga that has successfully been providing at least a chuckle or two per volume, if not outright belly laughs.