I just started watching it via the now famous tv.uk link site
I'm about halfway through the third season. It's still pretty interesting. Some parts of the show are dragging because of a lot of soap opera stuff and lack of new, fresh characters. It's cool to see Dean Stockwell having a good time on this show and it's too bad Lucy Lawless has been typecast because she's still a knock-out.
I'd like to see her in other shows/movies (not SciFi Channel fare).
I'm looking forward to the final season...At least Galactica is not going to keep you waiting or goes on for too long so the series ends without any resolution.