Babylon was a show that really grew on you over time and especially once the ramifications of some of the apparent stand alone episodes began to be played out. seemingly insignificant things would take on new meaning sometimes in the next or following seasons. The only show that comes to mind that does this as well is the new era of Doctor Who.
As mentioned above it was the first sci-fi to be shot on the 16:9 widescreen format and in many other ways was head of it's time. Although they may not look much now the special effects where cutting edge for it's era (just think how corny some of Star Wars effects appear today). I think that critizisiums that it is a Star Trek want to be are unfair. It was produced in the early 1990's and while episodes can be enjoyed seperately they really come into their own over the five year arch of the underlying story.