If you ever decide to watch it - just remember one thing: do not drop it on the first season no matter what. Cuz the best is yet to come...
The answer is YES. Sure, 1st season might be a bit boring, but in the end you'll understand its importance in the global picture. Because Babylon 5 is not one-episode-per week show, that reboots itself every week. Its beauty lies in its continuity. It's that kind of show where the critical plot points were intentionally dropped all over the place.