The strengths and weaknesses of seasons 1 and 5 are so different that I have a hard time comparing them directly. Season 1 is slow and rough around the edges, but the foreshadowing, especially on rewatch is so wonderful and brilliant, it improves on subsequent viewings because you realize what a wonderfully elaborate web is being set up.
Whereas season 5 is really rough in the first half, but the latter half is classic B5 like we are accustomed to leading up to my favourite series finale of all time. I don't mind Lochley, but she is no Ivanova, and I don't like that JMS made her Sheridan's first wife. It was not needed and kinda cheesy. Also the aesthetic of most of season 5 I find to be lesser than seasons 2 through 4. I don't know if they got more money being on a real network, but I preferred the moodier lighting of earlier seasons.
Also, I don't love how Sheridan and other members of the main cast all of a sudden starts dying their hair. I liked how they are started going grey or in Garibaldi's case, lost their hair.
With respect to Sheridan, I'm not sure familiar with Hal Jordan in the comics, how is he so similar to Sheridan?
I think what I enjoy so much about Sheridan as a character, even as a captain, is he is not as morally black and white as other similiar characters of the era like Picard.
He is a more realistic military man, who does dubious or pretty ruthless things in what he believes is the service of good. (Eg. The fake distress signal and nuke trick against the Black Star in the Earth-Minbari War, embracing his hero worship and using it in the Shadow War, sending Erickson to his death intentionally, and using the telepaths as weapons at the end of the Earth Civil War.)
I also find the ego interesting. I like how the show examines how "great men or women" have ego and seem to think they are "the chosen of God". I like how JMS used that for the Garibaldi conflict in season 4. And as a 90s SciFi kid, I do enjoy some hero speechifying (Mass Effect turns this into a gameplay mechanic).
I am a bit more sympathetic to Londo, probably partly because I first saw the show in the "simpler" time of the 90s (just like how we are also accepting of Vader's redemption). But I agree that they does a great job of not giving Londo a happy ending or true redemption.
Interesting thing about the War Without End future timing is that it perfectly lines up with Londo's description for his vision of his death in the first episode. He says it is "20 years from now" (which is 3 years before Sheridan's death, which is itself 20 years after Z'Ha'Dum).
If you ever want more B5 universe content, TNT commissioned a few TV movies. They can be found on XBox Video, iTunes, or Google/YouTube.
In order of quality and story importance:
1. In the Beginning - tells the story of the Earth-Minbari War. Told by Londo in War Without End future era.
2. A Call to Arms - backdoor pilot to B5's successor series. Successor series, Crusade, was going to be JMS's revisionist take on the classic Star Trek formula starring Gary Cole, but TNT, when they realized the B5 audience was not watching anything else on TNT, did everything possible to sabotage it to get out of production.
3. Thirdspace - Lovecraftian standalone story set between end of Shadow War and Earth Civil War. B5 finds an ancient Vorlon artefact Hyperspace...
4. River of Souls - Standalone set after Sheridan's departure from station in 2262 involving Soul Hunters. Stars Ian McShane and Martin Sheen.