This is a phenomenal episode. The plot never drags, the sci-fi elements are interesting, and Patrick Stewart gives a great performance.
The time jumps were my favorite part of the episode. It was amazing to me to see someone like Captain Picard say "let's build a nursery." Someone who dislikes children so much, and yet, after five years in his own head, he's been persuaded to have children with a women he had previously never known.
The depth of emotion from Picard here is terrific. He knows the sun is dying, and the planet along with it. His grandson, who he's playing with, won't live long past his current age. I teared up at the end when Picard plays the flute in his quarters, and I hardly ever cry at TV.
Looking at the long-term effects from this episode, it seems like this would have even more of an effect on Picard than "The Best of Both Worlds." He lived an entire life with a family he grew to love and cherish, only to have that taken away, and to re-enter his life on the Enterprise. For most men that would constitute some serious post-traumatic stress disorder; but Picard is made of sterner stuff than most men.
Definitely one of the best I've seen, and I can see why it was put on the Star Trek Viewer's Choice Marathon before the series finale.