This was an entertaining but not particularly good read, even accounting for the change in tastes over the years since this was first committed to ink.
Raffles is a guy who seems inestimably bored with his life. He's a fabulous cricket player, but seems to take no real joy in the sport. He takes to life as a thief, and does sometimes seem to get a little joy out of it, but he draws in his associate, bunny, and often seems utterly bothered by the need to actually treat his like an associate. He has a code of a sort, but he sort of dismisses that code when it's useful to him.
Said associate, oddly named Bunny, is by turns obsessed with the life and social friendship of Raffles and trying to distance himself from the man. He's quite jealous of ladies in Raffles' life and spends quite a large chunk of his time thinking about Rabbles, even as he's being treated pretty badly by the man.
I understand this is a parody of Sherlock Holmes, and honestly, its on that level that I enjoyed this most - trying to work out what aspects of Raffles were connecting to what part of Holmes. I suspect I'll be checking out more of this. :)