I just wanna say one thing, I like the G1 series more because it was dark and had an epic fantasy feel, which I don't really see in FiM (sorry). Plus, the villains were really loving scary. Don't get me wrong, I love Discord and Nightmare Moon, but they aren't scary.
While FiM is overall much better in terms of character development, writing, and songs (dear Lord, IMO, 90% of the songs from G1 were just...painful), G1 did have that really cool High Fantasy feel to it, and it was DARK. You've got the likes of Tirac and Grogar of Tambelon threatening the very way of life in Ponyland (Equestria....whatever you want to call it). Granted, we had that with Nightmare Moon and Discord, but those previous villans were downright SCARY! Heck, Tirac explicitly threatens to decapitate Spike in the original! Those villans just seemed to give the entire episode a real sense of danger.
So, yeah, the G1 series may not have the details in the writing and characters that FiM has, but it did manage to have some really neat fantasy concepts and an overall feeling of epicness in it's own way.
If you've seen the Rescue at Midnight Castle(this is where that Tirac guy comes in) special, you'd know what I mean by 'dark'.
http://mylittlewiki.org/wiki/My_Little_Pony_Special Just read the synopsis if you don't wanna watch it.
Most of the other G1 MLP shows were just as dark, like "The End of Flutter Valley". That was pretty dark, too. Of course the bad guys in this special weren't as scary as Tirac.
Another synopsis:
http://www.kimsites.net/dreamvalley/86_series1.html#end_of_flutter_valleyA another episode I remember, that I thought was pretty dark, was that "magical coins" ep. Where Baby Lickety-Split stepped on one of the coins and wished it would never rain. But how can that be dark, you ask. It just was. Especially where all the crops started to die, thus causing extreme devastation, and then all the water in Ponyland began evaporate, which nearly killed the sea-ponies(:C). And there was a wildfire which almost killed everyone.
http://www.kimsites.net/dreamvalley/86_series3.html#magic_coinsBut you're probably just gonna be all like "mlp aint scary hurhurhur u dumas g4 is supior epic master race."
But these are my views and opinions. If you don't like them, then just be quiet.