As a local who lived here during Katrina, I find this show particularly moving and powerful.
There have been so many films, documentaries, novels, etc. about New Orleans, and most tend to sensationalize or to give non-locals what they want or expect to see. This is the most real portrait of the city I've seen, and it does justice to the spirit of the city. Living here is a strange experience because it feels like a small town: you run into the same people again and again; people are always eager to show newcomers where to eat or drink or listen to music; people are very friendly; people do tend to cringe when visitors never stray from Bourbon (even though Bourbon is fun); people do have a fierce loyalty to local bars, restaurants, etc. Simon really captures all of this in the show.
I never saw The Wire, but I'm impressed with the style of giving snapshots of the city or characters to build portraits of the people and the atmosphere - particularly the second line parade, John Goodman's character reading the Tulane renewal plan (brought back some painful memories for me personally), the Mardi Gras Indian practice, the reaction of people walking into a house or bar for the first time since the storm and surveying the damage.
My main concern for this show: I have no idea how non-New Orleanians will feel about it. So much of my enjoyment of the show is rooted in seeing people I know and finally seeing a director do justice to some of the most wonderful things about this city. But I'm not sure how I would feel if I weren't so emotionally invested in it.