Heh. The price was one of the main reasons I got it.
There is some mild language, but nothing much harsher than the d word. There are some instances where clevage is shown (minimal and substantial). It's used in either a comedic way or a result of their clothes (permanently stuck in the late 80s early 90s). The nudity is in the 1st and 5th episode. In the first ep, three of the girls are taking showers and talking about who they need for the 4th team member. In the 5th ep they're in a bath and the character Lote (told you she was special..) does a "dead man's float" and rises bum first to the surface. The other girls were talking and panic thinking she's actually drowned. When they turn her over and sit her up she grins and says she's a dead body. She gets smacked and you can see her boob. That's the extent of the nudity.
As for yaoi/yuri, there isn't any. Yoko teases Madoka in the first ep, but it's a joke. Madoka challenges her to a video game and Yoko says that she's noticed her watching her for the past few days. Then says she was worried Madoka was going to confess her undying love.
If you do decide to get this, pay attention to Lote's costume.
There are two little teddybear faces on it. ^_^ I didn't notice what was special and really nifty about them until my brother pointed it out.