I was kinda skeptical with the wraith too at first, just another persistant enemy like the goa'uld, but more or less they were needed in the series. KISS: Keep it simple stupid. You have to look from the director's point of view, not everyone watching is smart enough to go: "hey, the wraith are just another spooky scary enemy like those goa'uld".
I thought it was really excellent, the special FX, computer generated Atlantis, the new sounds are all great. (The wraith fighter ships sounded like something straight from Star Wars, good thing)
The first episode leaves a lot open to be explained, so of course it makes you want to watch the next one. Immersive, like SG-1, and spiced with the humor you were acquainted with in SG-1. O'Neil, or should I say GENERAL O'Neil
made an appearance with Daniel early on, more or less bridging the gap between SG-1 and Atlantis.
If you missed Friday's episode, go to
www.gateworld.net and read the episode summary. But see it eventually, because it was definitely worth it.