Ah, the episode that started it all. I don't think this episode was what got me to get into the anime back then, but it did manage to spark some sort of interest that made me want to tune into it every single morning during its initial run in UPN.
Despite what some people may think, Pikachu as a starter is a really bad choice. It's one of the harder to manage Pokemon and the anime showed that quite well. Ash woke up late, managing to miss out on all three of the starters. He gets the unruly Pikachu to start off his journey, which he's only dressed in his 'jammies. Heh, I always found it funny that the boy's first day as a trainer was all messed up, it added to the charm of the first series.
I remember how mystical the scene with Ho-Oh was at the end. I really expected to see an on-going storyline involving this Legendary, especially after what was said about it in episode two. However, it barely ever came out again.