Just watched it, and it is actually quite good. Don't get scared off by the kinda low rankin: It is probably either from My Little Pony haters - or the Friendship is Magic purists. Obviously, this IS a subjective rating - as all are - but the show is indeed pretty good.

The major change is probably that the story is constantly progressing through the episodes and episodes are not almost entirely closed within their own as they were in FiM.
I have to admit, it is a tad bit hard to figure out in which order they are to watch if you are not familiar:
1. The Movie: MLP - A New Generation
After that, the current 3 chapters - luckily, Netflix have sorted these automatically:

2. Ch1: The special introducing the show - 45 mins
3. Ch2: 8 episodes x20 mins
4. Ch3: Another special, 45 mins.

Additionally, it is accompanied by the Tell your Tale series on youtube, which seems to consist of 5 minutes shorts, referencing to the series, but I haven't watched it yet. I didn't feel I was missing any story elements not watching it.