I saw a bit of it recently and unfortunately, it visually looks dated due to the fact they went CGI with the effects, IMHO, too soon. The FX look 'video-gameish' now which is a shame as the story & acting are great. OK at the time, but nothing to what can be done now. Looking back at ST TNG, it's fared a bit better in the FX dept by sticking to miniatures. B5 would have been very expensive to do with models, so CGI was probably chosen for production time/costs. But I think just a wee bit before it's 'time'.
At the time, DS9, Voyager and even the ST TNG movies resisted full CG ships. However in 1995, Foundation Imaging who left B5 , produced an absolute gem that got the FX industry motivated.
Watch from the 2 minute mark: