I'm currently a quarter of the way through and I think it is definitely compelling, although I haven't worked out whether I like it or not. (Though I think I'm erring towards the two thumbs and one phallus up.)
It's making me read it like it has no punctuation and the hundreds of strong images and ideas are just rolling over me.
Verdict at the moment - an alive stream of consciousness like talking to a smart dirty drunk at a bar five hours in to a lock-in. Funny and disjointed.
Oh, and it's made me hungry, too.
Not sure I'd want to analyze it too much, I'm getting the feeling it's just gotta be read.
You didn't have a woman named M as your creative writing instructor by any chance?