My girlfriend and I watched through the original, and we just got done watching all of the second series today.
It first starts off with these two alien things. They cheat on one another and are sorta brother and sister. So let's move on.
It doesn't really pick up until the Black Moon Clan show up. It got really good after the four sisters were defeated.
I also liked the character of Chibi-Usa. Being Usagi's and Mamoru's daughter from the future brought a lot of good moments, mainly of Chibi-Usa and her future mother trying to kill each other.
The whole past-future stuff was pretty cool as well.
Thankfully all the Sailor Senshi girls get power-ups, instead of their weak attacks in the original.
It still has it's share of problems, but I liked it better than the first series if you don't count the two aliens with a crappy tree.