Yes, this is another of the new anime debuting this season. This one is based off an (apparently) popular shoujo manga, although I'd never heard of it.
When I first heard about this I wasn't jumping with joy. Host clubs never really interested me and it sounded like it would be more dumb, convoluted shoujo crap. Then I read some good reviews, and then watched the first episode on YouTube.
This. Is. A. Fine. Piece. Of. CRACK.
Seriously, this show is awesome in every respect. While it does fall into the silly boy harem category, it kind of makes fun of itself and has some damn fine humor that had me rolling. Despite what it looked like, this is some damn good shoujo comedy. It doesn't hurt that the female lead isn't annoying at all.
Basic rundown: poor scholarship student Haruhi goes to the prestigious Ouran High, basically trying to study and not get in the way of the rich and clueless. One day while trying to find a quiet place to study, Haruhi comes upon the school Host Club, run by a menagerie of cute boys. The rundown goes:
Tamaki: president and reigning Host King Bishounen. Obnoxious and self-absorbed.
Kyouya: The "cool type" and the club intellectual.
Haninozukua (aka Honey): the shouta-bait type. (shouta being the loli-girl counterpart)
Morinozuka (aka Mori): the strong, silent type who usually looks after Honey.
Hikaru and Kaoru: the shounen-ai twins
When Haruhi accidentally breaks an expensive vase, Tamaki decides to make Haruhi the club "dog". But later on the gang realizes that under the frump Haruhi is quite cute, so they turn said frump into a bishounen and make Haruhi work off the debt as a host. The catch? Haruhi is actually a girl.
Yes, it sounds like the set-up for something really awful, but this is a ridiculously funny show, mostly fueled by Tamaki and his over-the-top host antics. But the rest of the boys are plenty funny in their own right, and Haruhi works well as an anchor to Tamaki's ego.
But one of the best parts about this series is some fantastic animation direction by Studio BONES (FMA and Wolf's Rain). If it weren't for the clever and beautiful animation this series might not be as funny as it is. Some really good vocal performances also help.
Try it for yourself, the first fansubbed episode is on youtube split into 3 parts: