The success of MLP FiM has become quite a surprise to any skeptical person which may had thought this was just a revival of the 80s in an attempt to appease toy sales, but the current incarnation of MLP was much more than that, at least on the virtual world of the Internet, and has slowly been spreading to many other mediums other than the toy market after its success. Spearheaded by Lauren Faust, whose various projects include a strong theme of female heroism, Friendship is Magic has been on with the same theme as her earlier projects with a bit more than that as well.
The story follows Twilight Sparkle, star pupil of Princess Celestia and resident bookworm of the library located in Ponyville, where most of the episodes take place. Upon reading about the prophetic return of Nightmare Moon (Celestia's sister Luna who fell from grace and was vanished for Millenia), she tries to persuade the Princess but gets to be sent on a mission to gather friends to enlighten her life instead. Of course, not wanting to waste time in such things, Twilight instead opts to prepare for the Sun Festival held at Ponyville by checking the preparations for it instead, while meeting the other central characters who have a part in said festival in one way or another.
Once Twilight is involved in banding with the other main characters and defeating Nightmare Moon, she understands the meaning of Friendship, and in every other episode that follows, she explores it along with the rest of the main cast who have their own episodes centering in problems and how to solve them regardless of how silly some of them might be. Such episodes have also brought a unique look into each character's personality, from Rainbow Dash's brash ego, to Fluttershy's shyness and kindness, while at times it turns the tables and showing OTHER sides to said characters such as in Party of One, where the ever cheerful Pinkie Pie turns into the saddened and angry Pinkamena Diane Pie after suspecting her friends don't want to be around her anymore.
Although MLP FiM doesn't have prominent antagonists, it does have memorable ones. In Boast Busters a unicorn named trixie Lulamoon was introduced as a boastful, arrogant, and mean pony, something that no other character has ever been acting like before that point. She was considered the "anti-pony" by some fans for this behavior while many others praised her and often would relish watching her in that episode over and over after it was aired via youtube. Fans clamored to have her return and talk have that she was going to be back and in Season 3, she did, a lot meaner and even more boastful than ever. However Twilight's intelect trumped power, and then we saw a side of Trixie no one could ever had believed unless they saw it, apologising for her misdoings and being in terms with Twilight...for now.
Return of antagonists such as Trixie is but the beginning, since Discord is appearing in a new episode in the same Season, King Sombra and Queen Chrysalis have been rumored to make a return as well.
FiM has a sleuth of VERY unique facial expressions, which fans have screencapped and have posted on online forums in the way of "macros" and "memes". It is quite certain that this will continue even after the show is long gone. The current series have brought many characters who are reincarnations from G1 ponies like Medley, while adding others who have become fan favorites like Berry Punch and Vinyl Scratch, notorious for her seemingly relation to the Techno scene in the real world.
The series have also shown that the land of Equestria is by no means, a primitive one, things like turntables, a dam, construction gear, bowling alleys, and even Arcade game hangouts have popped here and there, as well as a theater for ponies to glance at movies, which could point to a Hollywood version in their world as well. After all, places like Manehattan and other cities which are puns of real life places exist.
Another thing about FiM which gathers fans of every kind has been the countless references to old shows and movies, from I Love Lucy to Star Wars. In the comic version, published by IDW (who also publishes Transformers also from Hasbro), there have been spotted references of the same kind as well, while extending stories from previous episodes such as Queen Chrysalis' return.
Friendship is Magic has a bit for everyone regardless of gender and age, it has been quite interesting to note that the demographic is now more into male fans in their teens and twenties, and it has been expanded beyond toys and DVD releases as in having T-Shirts of characters with their one-liners in stores like Hot Topic for instance. Blinbags which have captured ponies almost perfectly have now included Princess Celestia, Cadance and Luna, who are taller and more detailed than regular ones.
As of now, the Season 1 has been compiled into a DVD set and no doubt 2 and 3 will as well. Rumors that a Season 4 have been talk of town, but not officially confirmed.
But no doubt it might happen, or perhaps a movie version of this Generation of ponies?
MLP FiM is a great series for the kid in all of us, so pony up and get your pony fix either on DVD or youtube videos uploaded by fans for the fans.