I'm watching it and generally like it. My wife watched the first two episodes, but is now done with it. She says it's too slow and too confusing for her.
I understand her confusion. There are so many characters, and the show just seems to assume viewers know who everybody is. (Maybe that's true for Brits who've been raised on this...I don't know.) I mean I know the basic history of Henry VIII, his wives, and the protestant/catholic conflict of the day; and I find it difficult to follow at times. I've read some summaries following the episodes that have really helped clarify things...give me some light bulb moments... "oh, that was what was going on there" - type of things.
I do find it interesting on how they depict Cromwell v. More; it's quite a different version of the More I've always generally understood... A Man for All Seasons and such.