The show was, much like everything else these days, technically and visually stunning. It was pretty weak storywise, though, especially in revealing the alien's true intentions and appearance via the "Basil Exposition" character at the meeting a mere 30 minutes into the show. Two of the biggest shocks in the original V were Diana swallowing a guinea pig and the tearing away of a visitor's disquise during a fight. This new V has little to no mystery and no dramatic momentum. ABC was wise to only produce 4 episodes at a time.
I expected this, but you cant blame the networks for it. Its the A.D.D. suffering viewers that are the cause of this. Yes, in a 45min pilot pretty much the two hours of the miniseries were compressed, it was obvious, but to be honest, I'm not sure if I am for this, or against it.
For one thing, what mystery? Its a REMAKE. We all know they are lizards under there and are going to cause problems. So why spend 3-4 episodes building things up to get to what we already know?
So yes, they sped through things to get to the core of what has to happen first in this new V series. The real question is where to they take things from here? It can't just be about resistance, or paralleling the Nazi's. I'm assuming it will have much more modern undertones. So hopefully those behind the show (at least those behind it now after all the pre-release changes) take things in a good direction.
Yes, it was accelerated for a pilot, but I don't think it cost us anything. Just saved a lot of V fans from going "oh! I know what comes next!" and lets them get on with the real story.