I've just watched Cowboy Bebop for the first time last month. I have enjoyed it, even though I'm not a big anime fan. I had high expectations for it, having read many great reviews about it, and I can't help but feel a little bit disapointed. I'm more used to "modern" anime such as Last Exile. At the time of its release, Cowboy Bebop was praised for its great animation, which has not aged so well. Still, the strange "western in space" feel is cool, just like for Firefly.
Basically, I enjoyed this anime, but not as much as I had expected. I have no regret, since I purchased the DVDs on sale, but I would not pay a fortune to get a Collector Edition or something.
Yeah, the awesomeness of Cowboy Bebop is more the attitude/feel of the entire thing than the overarching story or anything.