If they don't mess this up it will be the highlight of the ceremony.

It’s the one Coen film where the comedy really works for me

Everyone is different, but I strongly disagree with watching first. If you do, you should at least use subtitles, but I don't think I could have followed the language watching it for the first time. I recommend reading the No Fear Shakespeare series, which has the original text on the left page and a modern translation on the right side, which lets you both appreciate the poetry and make it easy to understand. Once you're done with a play, watch a well-regarded production.

Absolutely.

Adam West’s Batman was a stealth sitcom