As long as you don't have a three second attention span, Ghost Hound is worth watching. I admit for the first while not a ton happens, but the atmosphere it sets is amazing. If you told me before I started watching this that I'd watch an anime for the atmosphere, I'd think you were lying, but it really is awesome. Then when stuff starts happening...bricks are shat. It's getting pretty cool.
But then again, if you need BOOBS BLOOD EXPLOSIONS you should just go watch Mnemosyne.