Fan favorite for a reason. The outer senshi (especially Haruka and Michiru with their maturity that oozes through the screen and captures every scene they're in) are amazing additions to this franchise, the impact of these characters are still being felt today.
Story is fine like most of the other seasons, but honestly Sailor Moon for me has always been about character interactions and not about plot, and this season imo adds a lot of depth to the characters that we never seen before (also the turning point of the series where Minako becomes my personal favorite senshi because of all the amazing dialogue she was given this season.)
I wouldn't recommend jumping straight to S, watch it from the beginning because it will make you appreciate this season even more.