I don't often say this but this is pretty much a must-visit if you're going to Munich for the first…read moretime. It's in the Alstadt so the museum is not hard to get to. The museum shows the Bavarian royalty rather vividly.
You will need at least 2 hours to see all the exhibits, if not 3-4 hours. This is assuming that you won't be listening to much of the audioguide entries. The audioguides are thorough and informative, but you will be spending a lot more time in the museum if you listen to many/all of them.
The museum, as you can infer, is vast and chock full of stuff. While the rooms themselves are numerous, you still have exhibits with their collections of dining ware, furniture and furnishings. The tapestries are beautiful as are many of the rooms. The rooms seem endless at some parts. The good thing is that there are "off ramps" where you can shorten the visit and head towards the exit, but if you want the full experience, be prepared to spend a lot of time.
The treasury part of the museum, which is separate but adjacent, takes less time (you could go through it in less than 30 minutes), has some nice exhibits. The highlight is probably the crown and swords.
Staff at the entrance and around the museum are generally informative and not intrusive. The benefit of this museum, unlike many in the city, is that it's open on Mondays, so you can save this museum trip for that day.