Oh, yeah, I've seen this movie several times. And yes, it's absolutely hilarious. The scenes that always made me laugh were early on in prison, where Nicholas Cage as Hi is in the therapy group, and the prison psychiatrist asks one inmate:
"So, why do you think you're a woman trapped in a man's body?'
Inmate (in a rough, deep voice): "Because I get cramps."
Or when Cage is listening to his cellmate in the bunk below him-
Cellmate- "And when we didn't have crawdad's we ate sand."
Hi- "You ate what?"
Cellmate- "We ate sand."
Well, it's funnier watching the movie. The Cohen brothers are two of the best movie makers alive today. Of all their films, I think The Big Lebowski is the best and funniest.
-Bill, otherwise known as Kraichgauer