Madoka Magica is amazing in my book for a number of personal reasons, and I really hope I can remember to write them all as I type this.
The one thing I praise Madoka for is being a modern take on a genre of anime that is either really old/not that popular. What genre is this you ask? Well none other than the deconstruction genre of anime. The best one I can think of to this date is Neon Genisis Evangelion, and while being on two opposite sides, are very much on par with each other in terms of storytelling (Just one isn't as confusing as the other).
Story: In case you missed, this is a deconstruction anime. Which means it takes something that's very popular in a genre (in this case magical girls) and instead of showing you the good like everyone else does, it in turn shows you anything and everything bad that can happen with this concept. It takes something everyone wants to be, and tries its best to convince you that no, this isn't what you want at all. Madoka Magica does such a good job with this.
I also describe this to my friends as a devil in disguise. I put this off for a while just by looking at the cover art for it because it honestly looked like another magical girl anime (and we all know we NEED another one of those right?) but boy was I wrong. Somebody told me to watch to the end of episode three, and the shift that happened in that episode was unexpected and terrifying. From that point on, it turns into something completely different and shifts further and further every three episodes. For something with twelve episodes that does this kind of thing should be taken in regard because it could have been very easy to mess it up (cough School Days cough).
Art: Studio Shaft never fails to impress. From Chobits to Hidemari Sketch to Bakemonogatari, Madoka has a solid studio with a solid grasp of how to do this kind of thing. The art changes from bright and cheerful to dark and ominous, to outright depressing so well, it almost gave me whiplash. The art also has this thing where some scenes look polished, and then some will look a little roughed out, but it fits with the tone and the context of what's happening. Another thing that can't be forgotten is the scenes that play when each Witch shows up. Those are nothing short of amazing.
Sound: Voice wise, its basic to me. I saw this when the sub was coming out so I didn't watch the dub. The real gem that lies in the sound is the music. Its whimsical, its dark, its fast and confusing, and it actiony (is that even a word?). Not a single piece of music feels out of place in this anime. The opening music is great, and so is the ending music.
Characters: I can't really get much into this without spoilers,so I'll just say this; If you're the type that gets attached very easily, I'm so sorry for you.
Overall Enjoyment: Anime like this come once in a while. Neon Genisis Evangelion is one, and so is a good part of Gantz, along with recent anime Re:Zero. These kinds of masterpieces need to be taken into account for all the kind of story they have to tell, as well as how they tell it. I adore this anime to pieces for just the swell and twists and turns of emotions it brought, and how strong the bond of friendship can actually be for someone else. My only downfall with it is I can't seem to find all the episodes on DVD for a reasonable price, so I just settled for downloading them onto my laptop.
To me, Madoka Magica is required to watch. At least a try to the end of episode 3 nothing more.