Sleek animation, but wait, where's the story?
My first thought while watching this was: "Wow, great animation!" (was all the drawing done in Flash? Because some parts looked like they had been drawn on paper first), but somewhere near the end of the fight in the first part of the movie, I realized something: Why is Pico fighting this guy with guns and swords?
Obviously, this is no longer the young Pico from Tom's movies/games (due to his height and the hentai part (loved that, great animation and art), but there is no prelude as to why he is fighting in the first place, meaning it might as well have been some other character instead of Pico.
This took away a few points from the movie for me, as it seemed that Pico was just being used as a "sales gimmick", sorry if that wasn't your intention.