I should have watched this a while ago, as such a fan of Cowboy Bebop. However, when I attempted to, I didn't like it. Maybe subtitles and watching on a computer screen were the problem? In any case, I watched it on a decent-sized TV this time, and dubbed.
It's really damn good.
Basically, they made a modern, urban-inspired samurai story. This comes through explicitly here and there (particularly in some of the more silly episodes) but generally is present in the attitudes of the characters.
The animation is consistently high quality and the characters are great fun - they're a similar bunch to Spike, Jet and Faye in Bebop in some ways, but they're all moving on from their pasts, rather than letting their pasts drag them down all the time. Also, the fight scenes are fantastic. They're fast and exciting, and Jin and Mugen both have very different (and neat) styles that prevents them getting boring. They also have a healthy disregard for historical accuracy.
Recommendation: Watch them.