It's better than the original TV series that followed V and V: The Final Battle... but that's not saying very much.
I hate "reimaginings." I would much rather have seen a new miniseries that followed up on the original (ignoring TFB and the series), perhaps based on Kenneth Johnson's follow-up novel, V: The Second Generation. The story probably could've used some polish, but seeing how Earth would fare 20+ years after the original invasion would've been interesting.
Bringing back Jane Badler and Marc Singer is obvious stunt casting in an attempt to revive a failing series.