Do Comedy and Special Effects Mix?

The trailer for medieval buddy comedy Your Highness released yesterday makes it look like a pretty funny Apatow-ian comedy, albeit one with wall-to-wall special effects, which is an unusual combination. Some big-budget comedies have worked (Men in Black), but sometimes too much concentration on eye-popping action can make laughs secondary (The Adventures of Pluto Nash, Ghostbusters 2). Do glossy explosions and effects kill comedy, or is it all must a matter of execution?