My sister and I quit watching this because they're not doing a good job being faithful to the books (within reason), but they're also not picking the right path in simplifying it. The parts that they distill to don't have any of the distinct flavor of WoT (at least the books I read) that sets it apart from other fantasy series, imo. Glad you guys are liking it, but it could be a lot more interesting.
On the plus side, the casting is pretty good - Moiraine and Lan got me from the first two scenes, and the kids are alright, no one is as tragic as Emilia or Kit in the first few GoT seasons. Shame the guy who plays Mat already quit the series and won't be appearing in season 2.
I knew going into the series that there were going to be changes. Some of them I wish they hadn't changed. However, knowing how the world of the Wheel of Time works, I just look at the show as an alternate turning of the wheel. I've already mentally separated it from the books in my head and am enjoying it for what it is.
That's where I'm at with too - it exists as a separate thread in my mind. The world created by the books will always be there, but the show is a little bit of a view into that world, even if you are only getting a limited view into that world. I wouldn't criticise any book fans that have given up on it. I totally understand, and if the show is going to spoil your enjoyment of the books, by all means kick it to the kerb.
What matters is the feel of the show, and it feels right to me.
I wouldn't say it feels 100% right to me, but it's good enough for now and we'll see how it goes. I think the excellent casting helps, but my main worry is that we lose a lot of the depth and scale of the books, and this show just turns into "generic fantasy".
I enjoyed episode 5, but I have to say that I was a little underwhelmed by Tar Valon / The White Tower. I had imagined it to be a lot bigger, with a lot of fancy gardens and grounds, around the tower itself, with the town itself then surrounding all of that. Instead, it felt a lot more like a standard medieval city. I thought a lot of the interiors in the tower looked a bit fake, which was the first time I've really felt that about any of the sets on the show.