Yes, there is gratuitous sex and violence. But beyond that, it is a fascinating display of politics - the study of power.
I have since begun reading the books and just completed book 2. I greatly appreciate Martin's style of writing, his command of the English language. From a literary standpoint, it is first rate.
For those of you who are too turned off by HBO's excesses, I would highly recommend reading the books.
How did you get to watch it for free?