Not bad
The animation quality has really risen since the previous two titles that you guys have worked on. However, there are bits that I think could use a bit of improving on. for starters, I didn't really like how the menu looked this time around compared to the other two. Perhaps it was simply how the two girls were designed, but that's just personal taste.
I found a handful of the shorts to be lacking in the jokes department, for instance the Sonic and Bomberman ones. I'm sorry, but I really couldn't get a smile out of those. I think the best ones for both animation and humor were the Starfox segments, and the racing segment with Conker.
All in all, the visual quality was much better than everyone's previous works, but just work on the jokes a bit more, polish them up, and you'll have a real winner. Keep up the great work.