And wound up watching four...(three more to watch tonight)
If you haven't seen it, it's not a re-telling of the movie; it's just set in the same landscape and milieu...
I'm a big fan of well made black comedy, and this limited series (it's not intended to go beyond the 10 episodes for this season) is black comedy at it's finest...(When you can craft a scene of a guy murdering his wife with a hammer and make it funny, that's great black comedy...

It's hard to know where to start in complimenting all the outstanding aspects of this production, but I guess you have start with the cast; there are at least three Emmy Award quality performances:
Martin Freeman (Dr. Watson from Sherlock, and Bilbo from The Hobbit) is absolutely kick-ass brilliant as Lester Nygaard, the mousey, under achieving, long suffering insurance salesman who suddenly finds himself caught up in a string of murders...(Lester turns out to be very resourceful and quick on his feet)
Billy Bob Thornton's performance as Lorne Malvo (gee, I wonder where they got the name "Malvo" from?) as the soft-spoken, well read sociopath hitman who first draws Lester into this strange odyssey is equally great...
And Allison Tolman as Molly Solverson, the under-appreciated deputy sheriff who pursues them with Columbo-like tenacity is also superb...
Colin Hanks, (Tom's little boy) also does a great job, as does the the rest of the cast...
The writing is also blow-you-away fantastic...
It has the same two great qualities as the other two shows I have raved about recently, (Justified and Orphan Black) :
1.You have absolutely no idea what plot twist is going to be introduced next...("Gee, I didn't see that coming"...was something I found myself thinking pretty much every other scene)
2. Quirky, strange, completely unexpected humor that can pop up at any time...
And then there's the direction, camera work, and cinematography which are also first rate...
With over 19,000 responses, the show has a 9.2 rating on IMDB...
http://www.imdb.com/title/tt2802850/
FX has really hit a bases-loaded home run with this one...