I've read the first volume and have the second volume sitting on my shelf. It wasn't the greatest thing of all time by any means, but I really enjoyed it.
I'd say the first volume is definitely worth picking up for the $5.99 I think Comixology had it for. I don't remember there being any girls featured in it (since you guys were mentioning the pretty immature way they tend to be drawn in Elephantmen; I dislike that quite a bit too) except for maybe in the very last issue of the volume, and even then, I don't think that was for more than a handful of pages. The comic in general is far from being a collection of scenes like the admittedly pretty ridiculous one Zombine posted.
The art (at least in volume one) definitely isn't the strong suit though. While reading it, I had to make sure not to look too closely at it. It looks nice at a glance (mostly due to the coloring/inking which seems to carry the art) but upon closer inspection it's really pretty poor (again, I've only read the first volume; I know Chris Burnham even makes an appearance as the artist a few times in later issues, so I'm sure the art in general gets better).
But yeah, it's a really cool world that Starkings has written in Elephantmen and I'd recommend checking it out.
I write with way too many parentheses.