As always Pratchett is brilliant, laidback and funny as hell. Too bad the story isn't very original.
In a way this book is a bit like those cheap parodies from popular books like Harry Potter, that you find everywhere. It takes a well known story and tries to fit in another world. Most of the time, this sort of thing doesn't have a pretty ending, but since the things that are possible in Discworld are all highly improbable, it fitted like a glove.
Like all the other novels from this completely insane series, you can read it on its own. Of course, it is more fun to have read the other books, but it isn't a necassity.