I've been watching this from the very beginning on Showtime and it's been cool stuff all the way through. I enjoyed the series so much that for a while my satellite service had nothing but the bare minimum of channels and Showtime. I'm really liking this season so far, particularly how they're playing up the comedy aspect of the whole thing. Jack has a lot of really good one-liners. I think if they keep the quality this high and stay with the comedy to lighten up the situation appropriately Stargate could be around for another 3 or 4 seasons.
P.S. For anyone who doesn't know an interview with the writers for SG1 shown on the Behind the Scenes Stargate special shed some light on the comedy aspect. One of the writers was shown saying "it suddenly occured to me that Stargate is a comedy, so we're doing more with that." If you look back at the most popular episodes that's pretty much true. Go Sci-Fi/Comedy!
P.P.S. What may throw a monkey wrench in the works is that Richard Dean Anderson (AKA Jack, AKA MacGyver) has expressed his frustration working in the Vancouver area, as it keeps him away from his family in LA. There were accounts saying that he had said he wouldn't do the series anymore unless it was moved to LA for shooting. I was a bit nervous about this since I know sometimes network execs can be shortsighted and Vancouver offers massive perks -- cost or otherwise -- compared to LA, but considering that the show has been renewed for an 8th season and considering the incredible foreign fanbase I think it may be possible the network execs decided a change of location was in order. Out of the low budget days, eh? Can hardly wait to see what sort of money they blow on special effects now.