Pretty dull, I have to say. I mean, it's not bad, but nothing special. The humor is all very weak and academic and world-weary. Nothing to make you actually laugh. The crazy con-man Butler was pretty fun, and the characters in general aren't bad, but I struggle to think of anything particularly special to write about.
Also, I don't know why, but the racism kinda bugged me. It normally doesn't that much, but Waugh just reminds me too much of the disgusting Oxbridge milieu.