I liked Lou Albano's do the Mario. It's such a hilariously cheesy rendition. Also, don't think the animation was too bad in quality for the 80's, compared to a lot of other stuff DIC had.
Also, I don't think Nintendo has gotten too far from that original portrayal of Mario, only in terms of voice. In terms of personality, he has been commented as a heavy eater at times.
Luigi's modern personality was shaped by this show as well, being the coward we know and love.
Peach hasn't done anything since this show, and I only think she was portrayed as this tomboy during the show was because of female depictions that were going on in 80's tv.
Bowser's always been an idiot, an egotist, and a gimmick lover. *coughClownCarcough*
This show couldn't get too far with the plot at times because of how limited the scenarios were in the games themselves. They definitely got better in the Adventures of Super Mario Bros. 3 because of the increased cast and stories to play with. At least this series had some good moments and Lou made a very respectable Mario.