It is good, but thus far, my preference is still Doctor Who.
One reason for this is the setting... in Doctor Who, setting is one thing that changes every week, due to the TARDIS. I enjoy that quite a lot. Every week, a different time, a different place. So far, in Torchwood, all episodes have taken place in 21st century Wales, which is slightly less interesting.
The program seems altogether more Earthbound, and less fantastical. Which isn't necessarily a bad thing, but not to my taste.
Anyway, there have only been three episodes, so it may be too early to judge it.
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Effect of Blood Plasma from Psychotic Patients upon Performance of Trained Rats