Bumping this thread to recommend
Superego.
Quite honestly one of the funniest things I've ever encountered. It's a sketch comedy series that is completely based on improv, but edited down into tightly-knit 2-4 minutes sketches that are just completely absurd and hilarious.
For fans of Mr. Show, Monty Python, Human Giant, the stand-up comedy of Paul F. Tompkins (who, coincidentally, is a guest on this show, and also has his own terrific podcast you should check out).
The second season (17 episodes) is free through iTunes as of right now, and TBQH, I can't believe they are free. They have great replay value, and I would've happily paid a buck or two for each episode if I had to. The first season is available via their website for $20 or so I think.
Anyways, can't recommend this enough.