Well, I figured I ought to weigh in on the opposite side of the scale, with a less positive review of the series. I'm probably going to end up comparing (i.e. contrasting) this more than I really should with Kyoshiro to Towa no Sora, which is (was?) my current benchmark in bad fantasy anime.
Munto TV is a rerelease and continuation of two OVAs from KyoAni in 2003 and 2005, if I recall correctly. The story itself (go check the synopsis) is fairly generic, although that's not a problem if the storytelling is excellent. Of course, therein lies the rub; Munto TV's storytelling is anything but excellent. When I say "rerelease," I mean it almost literally; Munto TV feels like it's cobbled together, lacking a proper flow between OVA segments. Additionally, it turns out that not a whole lot actually happens. It doesn't even have a melodramatic and focused (although still cliched as hell) finale, unlike in Kyoshiro to Towa no Sora.
What can I say? KyoAni is good. Really good. If you want high production values, they'll give 'em to you. The art is crystal clear, and the animation is fluid. Backgrounds are detailed, designs are fitting, both for the environments and for characters. I can dock one point only for the fact that they're not animating very many really awesome sequences, therefore wasting the extraordinary fluidity.
The soundtrack is decent, although it doesn't always manage to create the perfect mood, unlike Kyoshiro to Towa no Sora. That series wasn't salvageable either, unsurprisingly, as it's from the fantasy genre too. Instrumentation seems to be of high quality. OP and ED are disposable, as usual.
Munto TV had a neat thing going with Yumemi as a realistically reluctant and skeptical heroine, but this was wrecked by sudden character shifts required by the OVA timeframe. Lord Munto was pretty cool, but he was also affected by the timeframe. Suzune got way more characterization than she should have, given the timeframe, although I understand that her section of the story was metaphoric. Ichiko was...meh. All other characters might as well not have had names or faces. Really, Yumemi from the first third of the series netted an extra 2 points.
It was honestly painful to watch this. This was mainly due to my hopes shattering, with the shards subsequently working their way deeper and deeper into my skin. Maybe that's unfair, but that's the only basis I have for a rating of enjoyment. Episode eight made me want to stop watching, but I was so close to the end that I just sucked it up. It didn't even give me the satisfaction of terribly amusing (and amusingly terrible) screenshots, unlike Kyoshiro to Towa no Sora.
Go watch Vision of Escaflowne if you want good fantasy anime. Or go play a fantasy adventure RPG. You really have better things to do with your time than watch this. KyoAni needs to stick to adapting pre-existing material if this is the pinnacle of its story-writing ability.