I've been watching Falcon Beach and it's really not bad at all. I think comparisons to The OC are funny. I recall when The OC started, everybody was comparing it to 90210. Besides, this show is more a spiritual successor to Dawson's Creek.
The show has pretty decent production values, especially considering that its budget is probably not that big. It definitely doesn't look like a network show and the cast of unknowns kind of re-enforces that, but if nobody told me the show was Canadian, I would just assume it was a US cable import. At times, The Shield looks pretty low budget too.
I'm liking the show, I'm glad Global promoted it to death because I probably would never have known about it otherwise. Looking forward to watching the remainder of its run and I hope it comes back for a second season.