I watched the first episode last night. I wont go into the gory details, as everyone else has already done that (Her0press), it was pretty weak.
I will will say that the whole attraction of Flash Gordon is the art deco styling and totally over-the-top characters. The producers of this series seem (from the first show) to have totally missed that!
There is a hint of "retro" about the Mongo styled technology, but other than that, it looked like Buffy meets Picket Fences!
I will probably watch a few more episodes, as there is little else on on a Monday night, but I think I will loose interest fairly quickly!