I'm guessing this is the first commentary by this director, because he sounds really excited, unfortunately that doesn't make it good. The lowpoints come when he's trying to turn the commentary into a comedy show, which, for me, just falls totally flat.

As long as he sticks to talking about the film though, he manages to provide some fairly interesting facts about it(I was impressed by how much of it was improvised), but of course it's bogged down with the usual anecdotes of how he cast every bit-player in the film and how good they are.

I'd say if you're a big fan of the film you'll probably get some enjoyment out of it, if not, you're just wasting your time.