Most anime does have that humorous aspect, and while a lot of people enjoy it it can get old. Be that as it may I find FMA to be on the whole an excellent anime with a great deal of good plot behind it.

As far as worst anime, let's see... we were watching an anime awhile back for the ADV Advocates (they send us a free DVD with a few episodes and a crapload of trailers every month) and while the anime appeared to have some sort of plot, it was hard to focus on the plot because they completely overdid the breasts. There were way too many females in the area and all of the females had breasts that were impossibly large, even by the standards of many anime. They also jiggled unrealistically and grotesquely whenever they moved.

So yes. That was bad.