I have played some board games during this past year, not that many, but still quite a few. However, I've never until recently played Munchkin even though most of my friends rave about how great it is all the time. Anyways, my cousins were staying with  us at my grandparents and they had brought Munchkin with them (and the Munchkin Axe Cop expantion). Since we were in Lappland and it gets dark quite early we played Munchkin a few times during their stay.
I got to say that I initially thought that the rules were very difficult to understand, but after playing twenty minutes I basically understood the major part of the game. I think this game is a very versatile game, you make it into what you want and it's not all about how you play yourself but also how you interact with the other players which I thought was really fun.
I played both the original version and the Axe Cop expantion and I've got to say that I preferred the expantion since there were certain classes in the original version (that they didn't include in the expation) which made it very easy to earn many grades. It kind of felt like cheating and it wasn't as fun as when you really had to struggle to earn grades.
Overall I really liked the game and would really like to play it again (and possibly try some other expansions). I've played it with both four and three players but I think that four players made it more fun since more unexpected things happened. In Sweden it costs around 230 SEK (26 €, 22 £ and 35 $) which I think is reasonable for a board game.
If I would rate the game I think I would give it somewhere between 3,5-4 out of 5. It isn't the best board game I've played and I kind of believe that I would get bored after playing it a couple times more than I've had. But it is a great game, on the cheaper side of the spectra, which will give great fun for whoever plays it.