Should I wait before watching the rest of Princess Tutu?

lizbyrd very kindly lent me her Princess Tutu dvds, and I just finished season 1. It reached a moderately happy and satisfying ending (given the sweetly heartbreaking Hans Christian Anderson fairytale-ish tone) but I had a sudden vague memory of someone saying that you should stop at the end of season 1 because it's just downhill from there.

So, am I remembering right? Does it get dark and then happy again? If so I can deal with that but might wait a bit. (Liz hasn't seen any further than me so I can't ask her)

Also, lizbyrd: I agree, it did get progressively less femslashy as it went on, but I think the subtext is still there if you squint :)