Although it takes place between the stories of the original 1979 Mobile Suit Gundam TV series and the first sequel, 1985's Zeta Gundam TV series, Gundam 0083 was created in the early '90s, which complicates story matters somewhat, particularly for the hard core Gundam fan who works hard to rationalize the minutae of this fictional universe.
But for everyone else, this is a great action show, most episodes having at least one decent-length combat sequence, and some having multiple. The action is top-notch; not quite as flashy as can be found now, fifteen years after it Gundam 0083 began, but even so there is enough highly-detailed action to please nearly anyone.
The rest of the story, however, is more than a little cliche, even for anime. The protagonist, Kou Uraki, is only marginally better at combat than he is at dealing with women, so it may seem odd that he is assigned the prototype Gundam GP-01 mobile suit rather than one of the more experienced pilots who enters the scene after the nuclear-armed Gundam GP-02A is stolen by hard-core Zeon holdouts who refuse to admit that Zeon lost the war depicted in the original Mobile Suit Gundam TV series.
The Earth Federation, meanwhile, is consistantly portrayed as small-minded, weak, and corrupt; so much so that the characters themselves wonder how the Federation managed to win the previous war. On the flip side, only the clean part of Zeon is represented in this show, despite the fact that the backstory of one of the characters presents her as a participant in Zeon's ethnic cleansing program which wiped out approximately half of the human race. But, as I said, none of this is presented in the show, so don't worry too much about it.
Action is the centerpeice of this story, and all other considerations tend to be sacrificed in order to arrange combat between the major characters. The action is good; the mechanical designs by industry giants Shoji Kawamori and Hajime Katoki are constantly in the spotlight, and the majority of the action scenes were lovingly detailed by the animation staff. So, if you prefer a fast pace, lots of action, and a minimum of exposition, this is definitely a show you should consider. If you prefer deep characters, a strong storyline, and well-considered plots, you'll probably want to look at the other Gundam OAVs, like Gundam 0080: War in the Pocket or Gundam: The 08th MS Team.