Funnily Enough, Those VHS are the best way to watch the entire series nowadays. Sure there’s Laserdisc, but Laserdisc only got the complete seasons of 1 & 5, and half seasons of 2 & 4 and no Season 3 episodes. Whereas VHS got all the episodes & movies in the original 4:3.All the best on your rewatch! I did as much a few months ago.
Season 1 was surprisingly watchable. When I first discovered B5, it was with my brother on Saturday afternoons. It never aired on prime time in New Zealand. I think we got into it around the end of S4. Bit of an odd jumping in point but we were young and weren't paying that much attention.
When I gave the series a proper go it was renting VHS videos and they only stocked S2 onwards. It was enough to get the jist of the arc. It was only on my last rewatch this year I watched S1 proper. As I said, it was surprisingly watchable (there were some real clunkers - let's not kid ourselves).
I'd love to see this series remastered - not holding any hope out of course.