Considering when they were made, the effects on both shows are phenomenal. They're not that spectacular by today's standards, but we're talking back in the Pentium and Pentium II days and when RAM was measured in megabytes. I've only seen part of the first season of Babylon 5, so I'd imagine the effects got better over time. However, the first season is pretty rough. But, it was probably done on processors that were less than 100 MHz, so it's great.
Other Sci-Fi shows out at the time weren't willing to go 100% CGI, so you could consider these shows to be pioneers of that.
