This is one of those series that surprises me because it finds a way to work on so many levels.
For the most part, the characters are nicely done and well developed though I have to take points off of Musa for her frequent bad use of slang and Stella for her overly teen-emo factor. I give extra points to Layla for being one of the better Winx girls (besides my girl, Flora).
Season One of Winx Club, while catchy, doesn't have a story that just comes out and grabs you right away. It starts off with Bloom discovering her powers and going to Alfea School for Fairies to learn to develop her powers all the while trying to battle three Senior Witches from Cloud Tower School for Witches from trying to steal her powers. It comes together later on in the series.
Season Two on the other hand, has the better storyline and better develops the characters more. Layla is introduced, along with Pixies, a small magical race that bond with the fairies.
Dialog has to take a few points off but not too many. Some of the dialog is annoying at times (considering most of 4Kids actors aren't that good to begin with), but it can be easily overlooked. Season Two has the better dialog than Season One.
One series that I definately recommend be watched. I know not everyone is gonna like it, but thre will be those of you that will.