I didn't really like the first episode, but it sounds like I didn't hate it as much as you did, either. I kept watching mostly because I was curious, I like the lead actresses a lot, and I was trying to procrastinate getting any work done. The effects don't suddenly get much better, and the characters don't become any less two-dimensional, but I think the series does a good job putting a twist on each of the fairy tales. I agree with Emily that the best one is the one with the Huntsman, but that doesn't happen until several episodes in.

And Emily, it's got to be true love's kiss! Which means she'd have to seduce everyone in town first. I think she could probably do it, though.