This was one of two excellent late-night alternative comedy shows that Channel 4 produced in the early-mid 1980s, the other being Who Dares Wins. It introduced Hale & Pace to the TV audience, and catapulted Chris Barrie's career beyond his impressions and vocal talent as used on ITV's Spitting Image.
The comedy was typical Channel 4 fare. Clever, cynical and often crude, with a definite left-of-centre lean, it left no target safe. Some clips have surfaced from time to time on YouTube (mostly Hale & Pace's most famous characters, the Two Rons) and have confirmed to me just how good this show was.