I played Fiasco for the first time tonight and I was very impressed. As someone who is not the biggest fan of some of the Gamist aspects of role playing games, it was nice to play a game that puts heavy emphasis on story and character, while leaving the Gamist notions on the back burner.
It was remarkable amounts of fun to play because it didn't require me, the usual GM, to create anything or expend energy building a world. I got to be a player, and had the chance to play on both sides of the screen at the same time. It was nice to be able to have the whole group build the story together, which puts everyone in the mood to do their best to make the game memorable.
Explaining the rules was a little bumpy at first, but once the first round was over, everything was flowing like clockwork. In my opinion, the game system becomes clearer when it is in action, so learning by doing and setting an example through play is the key to a successful first session.
I think that Fiasco isn't a perfect game for all people, but it is a good alternative for folks that want to have a cooperative, fun, and creative evening together.
[5 of 5 Stars!]