If you are the kind of person who finds certain jokes out of taste or certain kinds of sarcasm racial or hurting, this movie is definitely NOT for you. Whereas, if you are the kind of person who is potentially "open" to ANY joke, there are lots of stuff for you there. The movie reminded me of Dharmapuranam, a political scatological satire by malayalam novelist O. V. Vijayan (best known for his critism during Indira Gandhi's emergency). You will find lots of sex and excretion interspersed between politicians, prostitutes, power and filth. The opening of the novel is still fresh in my mind :) The Hindu sums it up nicely:
Dharmapuranam marks the completion of Vijayan's metamorphosis into a spiritual outsider. By then, he had travelled a long way from Khasak's Edenic countryside. He had perfected his language to articulate what is "too deep for verbal approximation". Dharmapuranam, while verbally exposing the excess filth, obscenity and horror in power politics, explores the "concept of the teacher and incarnation", which he carried forward to exalted levels in his subsequent works like Gurusagaram (Eternity of Grace), Pravachakente Vazhi (The way of the Prophet) and a number of short stories and articles.You can read more about Vijayan at wiki and here. Some of my friends found the sarcastic jokes in Dharmapuranam very much "indecent" and "out of taste", whereas I enjoyed reading it. I am quite sure the same people will also find Borat out of taste. Also, don't go for Borat with huge expectations. The best of Sasha is really good and worst of him can be really really bad :)
For me, it was overall a good movie. Didn't get bored anytime, or rather, the times during which I got bored had measure zero!