Not bad, albeit a bit uneven. Bits were fairly boring, and other bits were absolutely hilarious, but the best part was, it was short. I'm becoming a fan of shorter seasons for things -- Wonderfalls in a dozen-odd episodes was about perfect, as was Firefly (although in Firefly's case, I trust Joss enough to keep it going -- but a lot of shows just start dragging when they go on too long, and even the best series seem unable to maintain it for more than about five seasons or so. And even then, there always seem to be slow bits in the middle of seasons).
Well, I've caught up with it now, up to the current mid-second season. It's not bad, but I find as I watch more of it, I'm a little underwhelmed. That said, if this is the worst of modern-day television SF, we're living in a golden age indeed.
But... While I've enjoyed watching it, there are a number of things that bother me. One, it's following the old series much too closely, I'd have much prefered it being more original. It's also got way too much going on. It's unfocused... In fact, the writing is a lot like the camera work, which is that shaky NYPD-style that I pretty much hate. If you compare it to, say, Firefly, I wouldn't say that it compares at all favorably.
The old housemate, being of the ultra-hard-SF variety, prefers it to Firefly. I can't agree at all, because at the end of the day, I agree with Joss and a lot of other people -- the storytelling is the thing. And Battlestar Galactica is fairly mediocre at that. Besides the whole unfocused, deeply random nature of the show, it also feels a bit contrived -- and it's not just that it's following the script of the old show here, it also tends towards melodrama (although the understated acting counter-acts that). The characters are also a bit random -- sometimes what they do just doesn't make much sense. But, probably the biggest thing Firefly has over Battlestar Galactica is that it's a lot more fun.
As for the science... Well, Firefly's got perhaps the worst science of any series since the last Battlestar Galactica, but nobody ever gets that right, not really, and the new Battlestar Galactica is no exception.