Some of the green screen shots have been poorly done, and the pace of the show has at best been rather erratic. However, apart from those flaws, it hasn't been too bad. Having watched the original version of this way back in 1984, I had some expectations for this show. Whilst some of them are still waiting to be achieved I do think they've done something right. I've seen the first season, and it's no where near my favourite show, it's got me coming back. I think it's waiting to see how they finish the story off and to see where they take it, having been a fan of the original.
As with FF, I don't think it helped having such a huge mid season gap, but any programme starting over which then went on a huge break like both V and FF did, would have struggled to win back the audience. V picked up at the end, as did FF, and both by the end of the season wre deserving of a second season IMO. However, FF went, leaving us with hopefully a longer second season of V with a bit more care needed on some of the effects.