I've been trying to watch only about an episode or two a day, because I'll have to wait until March at the earliest before buying Season 4 and I wanted to make the season last longer, but I ended up watching 5 episodes over the last few days. I couldn't stop after getting to Messages from Earth. Things went to hell quickly, and I had to keep watching. I'm going to try to talk about the episodes in a bit less detail then normal to keep this post from becoming an essay (although I don't think I'll succeed), so just because I didn't mention something, doesn't mean I don't remember or don't like it.
Exogenesis - The creature was freaky looking. this whole episode, I kept thinking "The Goa'uld have invaded Babylon 5"

Well, ok, maybe the Tok'ra would be more accurate, but it was kind of interesting seeing these aliens since I'm a big SG-1 fan. I wasn't sure what to think of Marcus when he was first introduced, but this episode made him seem more interestingl, and after these five episodes I went from being neutral towards him to liking the character. Overall, this was a good episode.
Messages from Earth - I thought the thug at the beginning using nunchucks was weird, but funny. The doctor's story of the shadows ship on Mars was interesting, although I'm wondering why Garibaldi didn't mention that he saw something like this to sheridan before this woman brought it up. I will say that I really noticed the music this episode. The music is usually good, but this episode it seemed especially noticeable to me, and it was very good. I'm glad that Sheridan finally did something to stop Earth (although a lot more of that is coming). The Night Watch continues to be annoying, although since I've obviously seen the next three episodes, I know they won't be lasted too long on B5. This White Star/Shadows battle was cool. The fact that a living being merges with a shadow ship is interesting. I thought the ships were alive in some way, but I assumed that the ships themselves were the shadows. I guess I was wrong about that. I liked the White Star's escape plan. The martial law thing seems stupid, but as we learn next episode, the president literally has no checks and balances, so he does basically what he wants. Overall, this was a great episode and made me really excited to see what came next.
Point of No Return - I liked the beginning scene where Vir finally loses it with Londo over his report. Like I said about the last episode, the president has no checks and balances. He is pretty much Palpatine at this point. there is no way in hell he actually has the power to dissolve the senate, but he does. He just needs a whiny crybaby to become his apprentice and the force to be Palpatine at this point. Why does the military follow him when he obviously doesn't have the authority to do this? I mean, I don't dislike what is happening now. Its intense, and interesting to see everything go to hell. I just continue to question why no one actually on earth is fighting this. It was cool seeing Majel Barret. Seeing garibaldi confront those nightwatch worms was awesome. The build up to G'Kar's plan was great. I'm glad Zach came to his senses and joined the good guys. I like how they were able to stop the Nightwatch. Those asses were looking pretty untouchable there for awhile, but Sheridan and company brought them down a peg. The words of the former centauri emperor's wife were interesting, although I don't really want to see Vir and Londo be super distrustful of each other, like they were in the last scene of the episode. I hope G'Kar gets to join the group fighting the shadows. This was an awesome episode.
Severed Dreams - I don't have much sympathy for the soldiers who die fighting for Clark. He's obviously gone far outside his powers, so if the good guys have to blow up the earth ships working for Clark, its the fault of the guys loyal to the president. Like Sheridan has pointed out, the soldiers are supposed to be loyal to Earth, not the president. It may suck for Sheridan and the good guys to fight them, but the idiots didn't leave them much choice. At this point, the president is obviously going far outside the law. If they support him, they should be prepared to get killed for their stupidity. I say the same thing about the majority of Earth's citizens. the fact that most of them support martial law (while the colonies see that its evil), and the fact that the soldiers will bomb civilians with no hesitation because they are so loyal to Emperor Palpa...I mean the president, just makes me want to see the Shadows attack earth. If they wipe it out, then a pit of evil will be gone from the universe, and there will still be enough humans in space and on the colonies to continue the species. Hopefully the good guys will let the shadows destroy earth before trying to stop them

Delenn made a great speech to the grey council, and I'm glad she got some support. It was interesting to see Sheridan's dad. Sheridan also made a very good speech to the people on B5. The fight scene near the end was awesome, and delenn coming to save the day was cool. I like how she got the earth ships to leave by pointing out that the only human to destroy a minbari ship was on her side. This was another amazing episode. I make fun of what the president has been able to do, but my suspension of disbelief works pretty well with that. I'm really liking everything thats happening.
Ceremonies of Light and Dark - Londo must have gotten his poisoning advice in this episode from Jack Nicholson's Joker. someone better warn Refa not to use any deoderant or shampoo

It's cool that Londo has stayed on B5, I thoight that the centuari wouldn't want him to stay since the station declared itself independant from earth. The scarred Nightwatch agent's look reminds me of Popeye. The remaining Nightwatch members are pretty crazy, especially the dismemberment guy. It was pretty funny what Garibaldi did to the computer. I like the scene at the end where he gets so fed up that he just blasts the speaker in the elevator. He's lucky that the computer didn't turn into HAL 9000, although if it had stayed around they'd probably all have wished for an early grave. Oh, look, another situation where giving a comm device to an ambassador would have really helped. Marcus really trashed the bar, I wish we had seen some of it. Lennier was pretty threatening during his talk with Marcus/ I knew he was a fighter, but he looked like he could break Marcus's neck with barely any effort. Lennier's secret wasn't surprising, I'd already guessed that he liked Delenn. I'm glad they got the NW members. Hopefully that ends the NW on B5. Sheridan taking out thew really crazy guy with that hard hitting looking pun ch was great. The confession scene at the end was good (although I'm reserving judgement on the Sheridan/Delenn romance subplot). Now, Delenn has a full set of B5 uniforms

The new uniforms are interesting, although I think I like the old ones a bit more. Overall, this was another great episode.