I haven't seen it, either. I don't have a TV at home so if it's not available on Hulu or CC's website, I probably won't get the chance. I've seen the Obama Anger Translator videos on YouTube and those are hysterical!
EDIT:
I just watched the first episode on CC's website (
http://www.comedycentral.com/full-episodes/key-and-peele/101-101 ). I really enjoyed the jokes in the segments where they are talking to the audience, but the actual sketches are rather unilateral. They will stretch the same joke out for the entire 3-5 minute sketch every time. Hopefully the show improves because these two have shown they can do some really great comedy, but they have managed to make this show rather bland and boring so far.