I managed to see Micmacs and thoroughly loved it. In true Jeunet fashion, characters have their specific quirks and little side-plot elements abound through the movie. A lot of what make movies like Delicatessen, Amelie, and City of Lost Children have this sometimes absurd but magical fantasy about them is present here but not overly gratuitous. Just the right amount and exactly how you'd expect it.
I've likened this movie to Three Stooges meets the A-Team versus Goliath. Really, two Goliaths. The plot is that Bazil's dad get blown up trying to defuse a mine made by a arms company. Later in his life, he is accidentally shot and the bullet is that of another competing arms company. Seeking justice, Bazil tries to confront the companies but is rebuffed quite strongly. He's then adopted by a rag-tag bunch of "orphans" called the Micmacs of the Slide Whistle who then join together to help Bazil take down the arms companies who have destroyed his life.
In true Jeunet fashion, we are introduced to each character who has a special talent that is exploited for the purpose of bringing down the arms companies. The plot, sometimes absurd and hilarious and not intended to be taken so seriously (as one reviewer earlier apparently doesn't get it). It's a comedy first and foremost and has all the hallmarks we've come to know and love from Jeunet. It doesn't move as fast as Amelie or have the sometimes overwhelming fantasy and magic of City of Lost Children but, in its own right, moves at a pace appropriate for the characters. And of course, Dominique Pinon is just over the top and brilliant as usual. Well done.