EDIT: Apparently the show is not flash animated. Serves me right for trusting my roomie. Thanks Shota, it's been corrected.
After studying the classic shorts in depth during college, I was deeply, DEEPLY troubled by the idea of a 'new' Looney Tunes show. So much of what made the old shorts charming is now painfully antiquated or downright offensive that launching a new show with the same spirit seemed impossible. On that note, though, I was wrong. If you're looking for "Herr meets Hare" you won't find it, but when you settle down and watch it you realized something: this is exactly what Looney Tunes would be like if it were made today. The idea of characters not having a continuity behind them is so alien to the modern viewer, it wouldn't attract anyone but fans of the classics without bringing in the new viewers that keep a show alive. Sure, some of the humor is a little raunchy, but through the rose colored glasses of nostalgia, we tend to forget that the old ones were too. The animation concerned me at first. I've not really seen much television animation that could match the craft of the original. Again, I was wrong. The animators did a lovely job of capturing the feel of the original. Is it perfect? Nothing short of raising some zombies would do that and I can accept a little modernization, but it's still an admirable job.
In my opinion, this show represents the best effort thusfar to reignite the series. Loonatics Unleashed strayed too far from the original mold to keep the charm. The idea of the core duo living together seemed like a little bit of a problem to me before watching. More than one classic short toyed with sticking Bugs and Daffy together and the tweakings to their relationship that have come from giving writers the the better part of a century of new material to learn from has helped (that said, I'm happy the writers are keeping in nods to the originals without crutching too much on "HEY! Remember this?!").
In conclusion, all I can say is watch it before you bash it, and try to do so with an open mind rather then holding it to the mold of it's elders and expecting a perfect fit. In short, ask yourself afterwards: "Was it funny?" I think you'll end up saying yes.