Unlike most of the other reviewers, I don't share the same admiration for the later Clouseau movies. Since then the movie has never failed to entertain me. I was eleven and it was showing at a local drive-in. This is one of my all-time favorite movies. If those movies are your standard for humor, you are bound to be disappointed.
If you are expecting the hackneyed humor and over-the-top performances that came with the last few Panther movies you are bound to be surprised by a movie that took time to make sense out of a story. Nearly every review I have read condemning _The Pink Panther_ to second or third rate status in the 'pantheon' of Clouseau movies comes from someone who either didn't know it existed or who was raised on the totally slapstick offerings that came later.