Since this is a short anime, this will be a short review.
Story: The protagonist students find out they are the lowest scoring class (by average) and to make up for it, they will need to perform well at the magic battle festival. Their preparations are interjected with random tidbits of their daily lives, like the cat-ear fad that hit the school...
Animation: As seen above, the animation is fairly smooth. I wanted a bit more from it, though, condiering this was a magical school, but that's just me being nitpicky.
Sound: The opening was pretty boring, but for an OVA, I was surprised there was an opening. Other than that, the voice acting was decent.
Character: They could have been potatoes for all I cared about them. You knew two of them were transfer students, two were complete screw ups, and that's about it. Maybe if the anime had been longer, they would have been better developed.
Overall: I kind of felt like this was a pilot episode for a television show that never aired. It presents the students, it gives some comedic side bits, and it showcases some of the storyline. But it lacked depth.
Simple, short, to the point, and not without some humor. While I could complain that the characters are 1 dimensional steriotypes and jokes unto themselves, it's a one episode OVA series (yes there's a second episode, but as of this review seeing it or not is a 50/50 shot).
Nothing ventured Nothing Gained. If you want to watch, watch, it's not horrible or painful by any means, and even if you don't like it it's short and does it's best to squeeze in humor as it goes along.
Opinion, Passable, and Watchable, but don't expect too much.