If you wanted an OVA that was just an animated albeit shortened version of the visual novels then you got your wish. If you were expecting more however then you're probably out of luck.
Its fast paced (duh its 54 minutes from roughly 4 hours of game play) but it does a great job of staying to the original story. Kudos for that SentaiWorks.
For a new studio the art is well done but don't expect something like the Fate Series. (Certain animations with the hand/arm movement are a little off but otherwise nothing glaringly awful).
Characters were fleshed out roughly the same as they were in the visual novel so take from that what you will.
Very enjoyable to say the least. If you cared enough to search it out after playing the original NekoPara visual novels, you're in for a fun ride.
Wrap up: Don't go into it expecting your life to be fundamentally changed, just sit back and enjoy the cute Catgirls doing cute things.
