Good review, basically on the mark. Not the greatest thing ever, but it knows what it's doing and it manages to be entertaining. Kenichi does make noticable gains, so it's somewhat satisfying to see him progress from the "spineless wimp" described in the series trailer. I mean, later on he can still be freaked out given a good enough reason, but that's because the martial arts masters or one of his opponents can be just a bit crazy at times.
I'll also point out that while the show does follow a formula, there is some randomness to it since you don't really know which if the Masters will take to training Kenichi next--or what kind of radical training he'll get put through.
The show also makes some sense in its progression. In early episodes Kenichi learns plenty of fundamentals and is doing well, but at one point he's confronted with a weapon and he then has a fear that he has to get over. That's a real issue right there, so it's nice to see some grounding in reality along with all the crazy elements that exist for comedic purposes.
If there's a complaint it's that Miu is rather obvious fanservice fodder due to her, ahem, size, although she's thankfully not exploited nearly as much as she could be. In fact, just in case her design is a turn off for some people, let me note that deliberate fanservice moments are actually relatively limited. Also, in part 1 at least, you will not find any cliche and lame "oh no he walked in at a terrible time!!!!!!!" jokes. You do have Kensei for some pervy sage jokes, although this is mostly limited to him using his camera overzealously and then getting punished. It should also be said that, by the end of the 13th episode anyway, Miu is still much more competent at fighting than Kenichi from what I can tell.
All in all, I rented this on Netflix and enjoyed watching it. I definitely plan on looking at part 2. It's fun, simple entertainment.
I would suggest that it's not the medium, but the quality of perception and expression, that determines the significance of art. But what would a cartoonist know? -Bill Watterson