After the highpoint of 'Signs and Portents', this episode was a definite step down in terms of the overall season, and provided little or nothing in terms of character development or the story arc.
The twin themes of this one are the arrival of a former boxer and friend of Garibaldi and his subsequent fight in a brutal bare knuckle arena called the 'Mutai'; and the simultaneous arrival of a Jewish rabbi to help Ivanova mourn the loss of her father.
It's not this a bad episode - in fact the level of acting and drama here is high. Its just that there isn't a great deal happening. You could miss out watching this episode and not lose out on anything in the overall story of Babylon5.