At first glance, I assumed many people, including myself, thought this series was just one of "super rich girls do anything they want" stories. Fortunately, this is certainly not the case. There were actually motives and backgrounds to the characters which I thought was one of the most forgotten aspects on creating this type of series.
It is true that this series is more close to Gilmore Girls than 90210 or Gossip Girl. I thought the dialog are witty and the characters are interesting, especially, Megan (played by JoAnna Garcia). She is quite wise for her age, but that doesn't mean she doesn't have any flaws, in particular regarding her relationship with her sister.
Overall, I hope CW will pick up this series for a second season, just because the story potential are endless and the characters are interesting. And for those reasons, I think Privileged is one of the best new series this fall, after true blood ofcourse then 90210 and then fringe!