@ Anasazie

I have seen all cremaster films (in cinema ), and I would list them in order of preference:

Cremaster 3 (2002)
Cremaster 2 (1999) 
Cremaster 5 (1997) 
Cremaster 1 (1995) 
Cremaster 4 (1994) 

I find overall Barney's filmmaking to be lacking in precision. His films are usually very uneven and lacking in pace. I think visually his tableaux's work the best, while the editing is usually also quite good. Pacing is also a problem, but for me, the longest installement was the most successful in this regard. I actually like the "The Order" section in Cremaster 3, and think the film holds together pretty well.
As for 1 being obvious, subtelty isn't exactly a trademark of Barney's (I would say quite the opposite), but I found the repetitious pattern and the Busby Berkley hommage acceptable. Nothing to marvel over, though.
If you haven't seen 4, it's very similar to 1, but has more food for thought to offer. But you haven't missed anything if you don't see it. I think 3 and 2 play in their own league, while 1 and 4 are still very amateurish. 5 is somewhere in between, for me.
Now, if I only had only understood hungarian while watching Cremaster 5. Unfortunately I saw them all without subtitles.


@madhuban

You can revise your list if you want.
I always consider short or experimental films as well as documentaries when making lists. A film is a film is a film. 
Too bad you weren't amazed by Pola X or Thin red Line. I saw The thin red line in cinema for the first time in 1999, and was blown away. But I came to appreciate its full impact only after the fourth or fifth viewing last year. It is a very rich and complex film. But I usually like films with schizophrenic concepts presented well (e.g. Pola X)
What didn't you like with Carax's effort. From the three films I've seen by him, it is by far my favorite.
I have seen the last Bolshevik, but while I think it's great, it doesn't come close to sans soleil or la jete imo. It's a bit didactic compared to Marker's own standards, and also simpler. But still a must-see.