I have my reservations about Ted. I consider myself a very big Family Guy fan as I continue to watch the show and buy the DVDs even though I complain that the show hasn't been funny since Season 3.
To my surprise, Ted was actually funny. I'd say it's on par with The Hangover. It definitely has Seth MacFarlane's touch with the slew of 80s references. There's also two 9/11 jokes and if you watch Family Guy, you know that Seth loves a good 9/11 joke. One small compliant is that the movie had too many characters, characters that didn't really add anything to the plot. One example of this would be Laura Vandervoort. Sure, she's great to look at but she was just there, she says her lines to console the main character and that was it. I didn't think Joel McHale's character was needed either and probably could have been rewritten. Regardless, I'm happy to have been proven wrong and I hope Seth takes some of this movie creativity and puts it back into Family Guy to make that show funny again.