Just to clear this up for you, the REAL story is a crapload of nothing happening, stalled in nowhere because the Kampfers MUST fight, and fighting for blood it's the least they do in the whole thing. This is one of the animes who i loved because of the fanservice, because other than that, it would be no anime whatsoever. (trust me)
PS: You'll get a boner when you least expect, i can assure that.
The story is focused in the fighting for the genderbender protagonist heart, every character is a lesbian, and it's not about the superpower fights and drama like i said in the small introduction. Honestly, all they just want to have a lucky time with the curvy Natsuru, and who cares about his man form? But unfortunately he only wants to be with Sakura, who's a big bitch.
Natsuru it's a dumb character overall, it's clearly all the bad intentions Sakura have, and he don't change a single thing about his unconditional love for her, it's annoying as hell watch this going on in his/her mind, Akane kinda try to show something for him/her (damn genderbenders), but still, the development it's boring as hell.
In the other hand, Shizuku is one of the best characters i've ever saw in a anime, she's the main reason i loved Kampfer, think about a chick, who is smart, loves to play with fire and screw up Sakura's plans everyday, and, obviously, she is a sexy beast! How to not fall in love, or better, how to NOT correspond her love? Natsuru seems like to know (or not, he doesn't know anything to be honest) that. That's why the show is kinda messed up to me, i do not have problem with the shitty history of Kampfers fighting (and the kampfers have super powers, but nobody remembers that) because the moderators want it for some settling who is the best side, the red, the blue, or OH MY GOD THERE'S A WHITE SIDE TOO, see, it's all about the randomness. And what's the deal with those stuffed dead animals? Who for some reason Sakura controls, is she the administrator of the moderators? WE'LL NEVER KNOW THAT!
But the slice of life/romance/ecchi component it's what turns me up in this anime, and happens pretty well, but is not the way should be. Some characters just pop up on the plot from nowhere, like, what the hell is going on right here? I know, everybody have their tastes, but c'mon, the end was a joke, the 'second season' KINDA promised a thing, but unfortunately we won't see this coming.
tl;dr? Natsuru is a dungis, Shizuku is the best, but they're all hot after all, so doesn't matter, right? (no.)
If you do like romance or flirting gals, i do RECOMMEND YOU TO WATCH, but be warned, the slow catch up of the relationships is a pain in the rear, if you catch my drift.
Meanwhile, the fanservice "men love boobs and lesbianism" is great, one of the best hot girls doing lesbian things.