I'm surprised that there are no other comments for this show. I guess nobody really watches Trio, but oh well, their loss. To me this show was like a cross between Adaptation and the great Brit-com The Office (only about TV in Hollywood).
The story is really well drawn, and the actors are all good enough to make you believe that these are real life people. That said, this is a comedy, and a very funny one at that. Not only that, but each of the characters are realistic enough to have something to identify with in them, yet outlandish enough to inspire some great surreal scenes (the Palladio's instructor for example - taking Pilate's and adding a really sexual twist).
Also of interest to Mr. Show fans is the fact that a lot of the supporting cast (David Cross, etc.) are vets of that great series. I've got to say, I was impressed, and recommend this series to anyone looking for something a little different. Christopher Guest fans will also get a kick out of this.