For anyone wondering when you should watch this arc, watch it right after episode 295 as the end of the second episode has a trailer for 296.
This episode was hilarious and very typical of Gintama comedy. The only reason it didn't get a ten is because the antagonist's story was a bit lame. Usually Gintama is really good at evoking emotion, even in silly episodes, but the antagonist for this arc wasn't all that great. I think this could've benefited from three episodes only because it would've given time to build up the antagonist's story and make it feel weighted like it should've. On top of that, the comedy was awesome, but the plotline of this arc could've been used a little better. For example, the characters used and how they interacted with each other weren't as outrageous as a usual Gintama arc like this would be.
That being said, I still laughed my ass of the whole time. There are moments in this arc that will have you rolling because of the seiyuu or the dialogue. So, yes, more could've been done for this arc to make it better, but if you just want to have fun for an hour and see Gintoki being an idiot, this fits the bill. As does most of Gintama.