It's really hard to judge this given the amount of content in it.
The quality of the clips ranged from hilarious to... somewhat painful to watch. For a good majority of them, the author's seem to think that the best way to entice laughter is to go "LOOK, HERE'S A PENIS! IT'S FUNNY!" The worst offender being the obvious and inevitable "Solid Snake" dick innuendo that's existed almost as long as the character has. Then again, I've come to expect this sort of thing from Newgrounds...
There's also the issue of some of the jokes dragging on and being overdone, or explained. One of the funniest parts for me was Snake with the fan attached to his neck just to blow the bandanna around. There was no explanation to it, and it was only there for a few seconds. Since everyone who plays Metal Gear would pick up on the joke immediately it's pretty funny. Unfortunately, the same scene was immediately killed by the 'joke' described above.
It's somewhat disappointing, since there are TONS of potential jokes for the Metal Gear series, but most of the scenes seem to stick the the same few things:
-Some overly exaggerated sexual joke.
-Raiden being gay
-Snake being old
I guess there's something in here that everyone will find humorous for themselves, but for about half of the scenes, it's the same dick jokes over and over.
I did find a few particularly funny, though.
Namely "The Failure," as well as The Fury in the cafeteria
Either way, good work to all of the contributors.