Since the plot is already known to most, I won't spoiler it to those that haven't watched it yet.
The pilot introduces us to our main characters, namely Sherlock Holmes and Joan Watson - and what an introduction it is:
Sherlock is a pathetic and overly nervous little man under the heel of his father - not at all the poised and (kind of) arrogant genius we know from the books or the many, many movies ( especially the superb russian films of 1979-1986) or, well, the excellent BBC Show "Sherlock". He has his moments, sure, but for every ingenious deduction he makes, he has to act overly stupid at least 10 other times.
Which brings us to Joan Watson - what an odd combination of brilliance and disappointment. On the one Hand she is instrumental in solving the case - there are moments when it seems only needs sherlock to get her interested - but is perfectly capable of breaking the case by herself. On the other hand, her character just isn't that well defined: She is Sherlocks sitter / romantic interest / "partner in crime" - and the one motivation the episode gives for her to act as she does, doesn't explain anything at all.
Finally, this pilot doesn't seem to be an episode of series about Sherlock Holmes. It looks and feels like we were watching a new show about the relativly dim-witted little brother of Gregory House, without the medical expertise - who only seems smart compared to the absolut idiots working in the police department, and of course compared to the killer, flat out confesses the first time Sherlock confronts him with his hunch.
The camera is lifted from House, the dialogs trys to divert from its blandness by beeing very fast, the motivations for all the characters are pathetic, the villain doesn't deserve the name (and was done better in Dexter, Season 1 Episode 8 "Shrink Wrap"), the plot is laughable and the conclusion is an insult to anyone with half a brain cell.
Maybe I am unfai to this show, maybe I shouldn't judge it to hard. But when there is a BBC Show about Sherlock Holmes out there, which does it almost perfectly, it's hard not to compare those two.