I'm reading this thread, and I'm starting to wonder if I was in a minority on a few things. For one, I like the characters (especially Ivanova, and was sad when Christian left) even though there are a few issues I have here or there. I thought the chemistry between Garibaldi and Sinclair was pretty good, and really liked the chemistry between Christian and Boxlietner.
Also, while some things didn't work in the show, I thought for the most part, things were really tight and well rounded. A Problem with having many writers is arcs start to lose focus. This is a problem I had with BSG (Among other things, since I think it's one of the most overrated shows in the last decade but that's a different topic). With B5, having one mind almost write the entire story, it kept things simple and straight to the point. However, one thing I am starting to notice from Seasons 1-2 and 3-5 is that even though the station was 5 miles long, it felt very short. At least the first two seasons gave us some scope on daily life on the station, something that was ignored later on.
Still, after getting into this show last year and getting the DVDs and currently watching Season 4, I really do like it, and consider it one of the best shows ever. It's not as great as Farscape (Which I thought had better stories, actors, characters, and chemistry, and even though they had puppets, those puppets are more human than some other Scifi Characters), but it's still pretty darned good.