Not really. I mean I watched it after seeing the original series but I'm pretty sure you would be able to follow it. All you need to know is "Amuro and Char hate each other. They fight in giant robots. The end."
Just a matter of personal opinion I suppose. Heck it along with 08th MS Team and CCA are the only Gundams I like really really really enjoy of the actual series.
Well it is the first episode, so you could argue that you don't need to get overly excited for it? Honestly I dug it, though it was by 2 and 3 that I really got into it.
Still watching it. I've kinda been distracted by other Gundams (Shitdust Memory, Zeta). But yeah I've watched/watching it. Loving the shit out of it. Why you ask?