Not exactly, I found the art in season 1 horrid. Color wise, it was closest to the manga but c'mon, they couldn't even give Dragoon and the other bit beasts their actualy color rather than with the glow? Also, the battles weren't that greatly animated.
2002 however, I really liked the chibi-look in as it somehow fit Beyblades overall theme (They have that chibi-fied feel in the manga anyway until Vol. 10 kinda) not only that but animation was overall more crisp and detailed. They made a few coloring mistakes that many can't get over like, Rei's eyes being brown rather than yellow and cat-like. (I think Kai's eye's were grayed rather than have that reddish tint it usual bares) As well as Max's hair color.
G-Revolutions desgins are pretty much the best overall and closest to true char colors. No real complaints there.