Not bad at all.
You managed to make it feel like an old movie. The pacing is just about right (it was a little slow at times), the graphics are complex enough to be emotive, and simple enough to get a little tedious. The animation reminds me of South Park very much so - that's not all bad. The lip synching (if you can call it that considering nobody actually speaks) is just enough to tell you who is talking before the sub titles pop up.
Overall I think you accomplished what you were trying to do, so you get props for that. It could have been better, but I don't think it would have made it much better to improve the art or the pacing.