It's a bit hit and miss to my eyes in those early days.
I think it depended who they used (I assume it was always either Foundation Imaging or Blue Sky when ILM wasn't involved) at the time. It's quite strikingly notable that the CGI by ILM in FC from 1996 remains superior to what I think were the Blue Sky CGI work in Insurrection in 1998. And even today in 2012 FC holds up pretty well.
On the TV side some of the early stuff works and some doesn't. The Badlands on the pilot of VOY were pretty horrible looking in 1994 but by 1996 some of the ship shots are still pretty good. It probably was easier to CGI the ship than something like The Badlands.
I can't really remember the early CGI on B5 though I have a faint memory it did seem very blocky and undetailed.
'If the Apocalypse starts, beep me!' - Buffy Summers
'The sky's the limit.....' Jean-Luc Picard, 'All Good Things'
courtesy of Saquist