Just to throw my opinion onto the pile...
I haven't actually watched ep 5 yet. I decided to watch the whole series from the beginning so that everything is fresh in my mind for number 5. I've only gotten through the first two episodes this time around, but I have enjoyed them a lot more than the first time. I had initially felt that it dragged quite a bit, but now it seems to flow much better.
For me at least, I feel it fits in very well with the other Macross series. I like Macross much more for the mechanical designs, characters, and war themes than the "spiritual/magical" stuff. As a result I much prefer the original seris, DYRL, and Plus over M7. But Zero provides a nice balance between the two extremes and ties everything together well. I'll see how I feel after I finish the other episodes.
One thing that struck me is how much knowledge the UN had about the Protoculture before the Zentradi ever arrived. As a result, I can see why the Council was reluctant to acknowledge Global's and Misa's findings regarding the connection between the Zentradi and Humans. Presumably they feared that eventually the truth would come out about just how much they knew.
Does that make sense? Perhaps it is common knowledge, but I haven't seen the original series in its entirety (apart from Robotech). Or am I way off base?