For a show with such a silly premise, this first episode seemed rather dull. But I'll chalk that up to it being almost entirely devoted to backstory in flashback form. I'm guessing the pace will pick up later on.
That said, there were some nice moments (the grandfather's reaction to the toast, in particular), and I'm anxious to learn more about the colorful cast of characters introduced in the OP sequence. Perhaps my only real complaint at this point is Azuma's voice. I know he's supposed to be excited and fired up, but that style of acting annoys me to no end. I fear it won't take long before I tire of his monologues on the glory of baking bread.
The show has potential, however, and I've heard nothing but good things about the manga, so I'll continue watching for now.