Yes it is.
Yes it is.
Back when cable was still pretty new, in the early '80s, that movie and "Moonraker" were the only things that played on HBO for MONTHS ON END.
My sister and I watched both movies over and over when we went to visit my dad, and we memorized them both, much to our mother's chagrin, considering how wildly inappropriate they were for preteens.
But "History of the World" was and is funny as hell.