I didn't find the CGI distracting, nor is Rocket treated like Jar Jar Binks (he is actually one of the more "serious" characters). Although I will admit that Groot (the tree) has some Jar Jar Binks style moments, but it isn't as distracting/jarring as Episode 1.
The last movie I laughed this hard at was The Avengers. However much like The Avengers this too might have weak re-watch value as you'll know the jokes are coming.
I am looking forward to the sequel and want to watch it again as soon as it is out on DVD/digital.
It has like 90% on Rotten Tomatoes and 9/10 on IMDB. Safe to say this is another smash hit and another feather in Marvel's cap.