Well, as Chris said, it hasn't aged particularly well, a lot of bad acting (some good acting too tho) the picture itself looks like shit 'cause of the screen ratio and the very old production values... however, yeah it might be a case of it not being too impressive 20 years later, and particularly now that there's soooo many excellente tv shows.
But I dunno, I mean, some shows just age well and others don't. I can still laugh my ass off with Married with Children for exemple, despite its quality being as bad or probably worse. I guess what I'm trying to say is that so far Twin Peaks doesn't seem very relevant, which can be a bit of a hurdle when watching an old tv show.
But aside from that, I mean, sure there are some nice quirky bits which I'll go ahead an attribute to Lynch, but the overall plot is rather dull, so far at least. I guess I'll stick with it just to be able to watch the new one.