I think it was one of the better ones.

The cartoon let it down a bit, but mostly because it was padded... as the story itself was fairly decent (a hunt first, then the battle against Unicron at the end).
The Comic did a better job at telling a story, but had to do it in 18 "episodes" so had to pack a lot in at the end, and ended up going nuts with the multi-universe concept and characters.

This series had one of the best (Transformers) computer games I had ever played, which gives it bonus points for the rating above. I would spend hours playing it, and then replaying it.

As for the toys - they hit Australia with a delayed, but big launch. Apparently we had a 5 month delay due to American stores wanting more stock than the factory could produce. This was probably the one series that had me most excited about it starting, as there was a lot of hype from the series by this stage, and it was new & it was vehicles.
Since I was at BotCon in 2002, I was lucky to be one of the first Australians with Armada toys (Hasbro gave out free toys to people at the Dinner), and even saw the first episode at that event. The excitement of that night, gave it such a great first impression.... and then a year later, we had Unicron. After all these years, we finally got a Unicron toy that was able to look like Unicron, and make an acceptable planet mode as well.

At the very least, at the end of it all, Armada gave us the legacy of Minicons/Microns, and Minicon ports... which are still being produced over a decade later. No other series created a gimmick that has been utilised continuously like that.