TV shows with historical premises have been successful in the past, but too often they descent into cornball territory. "The Waltons" had a reputation for schmaltz even when it aired, and "Little Houseon the Prairie" wasn't much better ... in fact, the last few seasons were ridiculous at best.
"America Dreams" takes a piece of the recent past, the childhood andteen years of the Baby Boomer generation, the time just before X-ers like myself were born. For the Boomers, it's nostalgia, a look at a time of tumultuous change; for the X-ers, well, for me anyway, it's a glimpse of a legendary time that we remember from our parents' anecdotes and the last few chapters of our highschool history textbooks.
The characters are well-drawn and while they have a stereotypical basis, they aren't restricted to the roles you'd expect; Meg, my favorite character, is pretty and popular, but very socially aware and actively trying to make a difference in the world around her. Reminds me, in an odd way, of Emma from Degrassi TNG in that respect.
The adults on the show are complex and interesting as well, and I got drawn into the story arc after watching just an episode or two this season. I'd really love to go back and catch the previous season at some point.
Anyway ... watchable, interesting, intelligently written, good production values. If you haven't seen it yet, it's worth a look.