Incredibly funny, broad, slapstick, surreal political satire as Woody takes over a Latin American country to impress a girl. A few bits feel dated, and it didn't make me laugh quite as much as 'Take the Money and Run' when I recently re-watched Allen's 'early funny films', but it still has more than it's share of great comic moments. The whole trial sequence is genius worthy of the very best of the Marx Brothers. (Or, in a more modern context Monty Python)
Personally I don't love the score -- it tends to underline jokes that don't need the help. It was after this that Allen went away from having music written for his films, using existing pieces instead, which became a huge part of his filmmaking style.
But the combination of verbal wit, and wild leaps of imagination (a political assassination becomes a televised sports event to start the film) make this worth taking the time to see.