The question to ask is, if they had waited to adapt CGI until it was a more mature technology.....would it have ever *become* a more mature technology?
Yes. B5 wasn't the only kid tinkering with the new toy. There was
Terminator 2: Judgement Day,
Jurassic Park, and so on. George Lucas has been vilified for it, but he probably did more for CGI than JMS ever did. True, far less experimentation with it on the small screen, but its use on the big screen would have eventually borne fruit as to its availability elsewhere. It might have taken longer, but I've little doubt it would have happened.
But as I alluded to earlier... the use of CGI allowed B5 to get the shots it wanted on a tighter budget. As the show never had a lavish budget to begin with - and was an epic, interstellar space opera - this was a pretty savvy move, in addition to being a pretty influential one... which doesn't stop
Hirogen Alpha from being absolutely right as to the respective merits of DS9 and B5's visual effects.