I wonder if a lot of the negative reaction over the years,
. . . and especially at the time of release, wasn't due to the fact that the film isn't primarily focused on being a comedy (in the colloquial sense of something that's going to make you laugh out loud frequently), yet it features a cast of comedians. It might have even hurt those reactions more that there are some funny parts and funny situations in the film.
It's more of a "light" gangster film, a period piece, and it's just as often quite serious. Genre melds can be difficult for audiences anyway, but when you've got a cast of comedians doing a meld of genres, where only one of the occasional genres being engaged in is comedy, it can be very difficult. The film is best appreciated with zero expectations/preconceptions, in my opinion.
http://www.rateyourmusic.com/~JrnlofEddieDeezenStudies