I haven't read the book The Penelopiad is based on, but I still found this book really enjoyable. It's almost written like a script, with different scenes, in different points in time.
I found it very dramatic, and not at all boring. It's definitely changed my opinion on many classical books.
If you enjoy Margaret Atwood books, this is masterfully timed and an enjoyable read.
PS. The twist at the end was absolutely heart-wrenching! ;)