As I'm about finished with the first season, I feel confident in calling it compulsively watchable junk. The show is entertaining, no doubt, but it's also full of fluff, soapy drama (which, for the record, I am a big fan of in my shows), thuddingly dumb plot devices, and is wildly unbelievable -- and that's fine considering it's a comic book series, but don't fall for claims that it's especially grounded in reality.
I am having fun watching the show, but would also feel sheepish about mentioning this fact to most of my friends.
edit: you will feel bad about your physical appearance after getting into Arrow. I'm not even into muscly dudes, but I would happily stare for hours at the scene of Oliver doing one-arm pushups while we can glimpse down the back of his jeans. ヘ(´o`)ヘ