I finished watching it, and they were, indeed, very faithful to the source novel, from start to finish. If they follow the one-book-per-season formula for the series (and if HBO is smart and keeps renewing it, hello?) it should give Martin enough time to finish the series! He sure as hell better.
I personally felt he'd gotten into a speedbump in Book 4, which was why it took him so long to get to Book 5, but (haven't read Book 5, yet, but it's on its way) maybe he'll have written his way out of the hole he'd dug for himself.
All the same, having enjoyed the first season, I'm still tempted to craft a "Game of Thrones" drinking game out of some of the things portrayed in it. Stuff like...
Bare ass (male or female): Take a drink
Bare breasts: Take a drink
Medieval sex scene: Take a drink
Joffrey acts like a shithead: Take a drink
Someone carries a torch: Take a drink
Homo-erotic scene: Take a drink
Actor playing Varys calls to mind Donald Pleasance in his acting: Take a drink
Someone's throat gets slit and they die gurgling: Take two drinks
Someone gets a blowjob: Take a drink
Character looks gravely on at something or someone: Take a drink
Cersei scowls with wrinkle-browed disapproval: Take two drinks
Battle scene is implied but never shown: Take two drinks
Catelyn acts like a bitch: Take a drink
Sansa does something stupid: Take a drink
The Imp does something witty or charming: Take a drink
Lord Baelish ("Littlefinger") smirks and/or grins: Take two drinks
Someone reminds Jon Snow that he's a bastard: Take a drink
And so on.