If you're a fan of the book, you'll enjoy this series. I've read the book several times, and was glad I chose this version of Little Women to watch over my holiday break.
If you haven't read the book you may feel the acting is a little flat or the speech odd in places. But I've found that movies and mini series that stay true to the older books they were written often after aren't as dramatic what we're accustomed to. They didn't try to modernize the show. It remains the same wholesome story about the March family's struggles living in the US during the mid-to-late 1800's.
The March family is middle class. Enough money to have food on the table, a comfortable home, and one servant. But not enough to buy much that is new or to afford travel as their wealthier neighbors do. They are concerned about those around them who are less fortunate, and sacrifice of themselves to care for others. The daughters' personalities vary - with a tomboy, a "princess", and two girls whose personalities fall in between. There is war, death, love, friendship... Basically it's just about real life, and well worth watching in my opinion.