As far as party games go, it's not that Wits & Wagers is necessarily all that bad. It's actually a pretty fun experience…IF you're playing with a small group of close friends. Outside of this specific situation, though, the experience loses a lot of its initial interest. The key is to not only know the answers, but to know who among your buddies would be most likely to know them as well.
When you're dealing with strangers or, even worse, computer-controlled players, that personal take on strategy goes right out the window. Still, for a price less than the actual board game would run and the potential for extra downloadable expansions, Wits & Wagers might be worth a go for your next friendly game-night get-together.