Yu-Gi-Oh Abridged stands on it's own as just being funny. Familiarity with the show is really not required. (Heck, I've have seen exactly one episode of the actual show and it was enough to make me go "yeah... no. Just... no.")
So I would definately give it a shot, if you can find the time; LK is extremely talented. (The show's home site is probably the easiest place to locate it all.)
TFS did another abridged series?
Well, I'll have to look into that one, then!
Edit:I could have sworn someone mention LK had done NGE as a one-shot earlier in the thread, but damned if I can see it ('cos I didn't know about it and went immediately to google it).
No, wait, it was just co-incidence; Linkara used a line from it in this week's At4W that I watched today!
Anyhoo, 45 seconds in and simply replcaing the title music with Red Dwarf has already made it hilariously better than the original. Also, it's Red Dwarf, so he gets extra special bonuses for that..!