Ok. So my previous MLP:FiM thread seemed to have been met with rather open hostility. So I'll lay some ground rules down here. Ok, really only one ground rule, but it's a biggy.
1) If you don't like the show/hate it, and don't have anything nice to say, don't comment/read the thread. That is all.
Now. The basic show premise is that you have a group of resourceful friends who overcome challenges, both minor and great, dangerous and mundane, and also learn something about themselves and each other along the way. They are also Ponies. Adorable, adorable ponies.
The first episode of the series is Mare in the Moon (Part 1). In which Twilight Sparkle (Yes, the name is most unfortunate, and non-indicative of how awesome this pony is), discovers that a horrible profecy is about to be fulfilled, and attempts to avert disaster.
It is about 20% more awesome than it sounds.
EDIT: I forgot to mention this. There are numerous fansites which you can visit. The fandom is really where the greatness of this show shines most. It can be tough to navigate them all, and there's already so many that it'd be a bit much for me to post them all here.
So here's the one that most closely resembles a 'hub': http://www.equestriadaily.com/
It has news on the show, fanfics, art, and anything else that goes on in Ponydom. It's awesome.