Like a lot of people on IMDb, I saw Super Troopers first and laughed my *ss off, thinking these guys were the second coming of Monty Python or something. Then I saw Club Dread, which had a significantly higher budget and more studio support, and I was certainly let down. So when I saw Puddle Cruiser on the shelf, I thought this might be the holy grail of Broken Lizard movies: an early effort in which these guys' talents could really shine, without being overpowered by the production.
But alas this sluggish, only sporadically amusing film brings to light one glaring fact about the BL team: these guys may be charismatic and talented, but writing is NOT their strong suit. This script is simply not funny, and no amount of natural comedic talent can cover that up. That makes it all the clearer why Super Troopers worked so well, while Club Dread didn't. Just compare the scripts, and you'll see that one is full of great jokes and situations ripe with comedic possibility, while the other is more of a premise than anything else.
So while Puddle Cruiser is a charming look at the roots of these guys' collegiate comedy bond, it is far from a solid film. Watch it for the nostalgia value, and hope these guys put as much effort into their future scripts as they did on Super Troopers.