Better than I'd hoped, but not as good as I'd dreamed. First off, for all the complainers who somehow think their ideas on the show are better than the man who C R E A T E D Sandman, who has been as heavily involved in the show as possible, sit down.
Overall the series is excellent, I can only nitpick about minor things.
1: making Alex Burgess sleep instead of cursing him with endlessly staying awake was a silly thing to change. It didn't improve the story, it lessened it. Dream has just been imprisoned for 100 years. He's supposed to get out and take revenge, ruthlessly, as one of the immortal Endless could and should, but instead he Just sends his captor off to dreamland.
2: why did Dream battle Lucifer instead of Choronzon? IMO the Audible version of that battle was of much greater impact than the Netflix version. If you haven't listened to the Audible version, what are you doing??? It's an absolute TREAT!
3: I still think it would be better if Dream's eyes were ALWAYS blacked out with stars in them. The way Netflix made it look is pretty good tho, but not amazing.
4: why take Gregory? In the original, Dream takes a contract from Cain and Abel, and re-absorbs his power from that. Taking Gregory was again, unnecessary to the story, and just painful for the audience to witness. Dream is fine being ruthless to the inhabitants of the dreaming, but won't take revenge against Alex Burgess who just held him captive for decades?
These are all pretty nit-picky, yes, and overall the show is as good of an adaptation as anyone could pull off. I don't think it will be a widespread enough success for Netflix to green light a second season, the source material is too niche.