North and South is a miniseries from the "golden age" of television miniseries in the 1980s, which was a time for long, sweeping epics with high production values and lots of star cameos. It is, for the most part, excellent for what it is, although I personally prefer the less soap-opera like elements of the story and the overall sense of history.
James Read and Patrick Swayze deliver excellent performances--especially Read, whose George Hazard serves as kind of an emotional anchor in the midst of the often melodramatic story. The series also contains top-notch work from Kirstie Alley, Wendy Kilbourne, Hal Holbrook, Lewis Smith, Genie Francis, Georg Stanford Brown and others. The costumes, filming, sets and music are all first-rate as well.
Don't take it as a history lesson, but take it for what it is--a well-made, sweeping epic from a bygone era. Book 2, which followed a year later, is also excellent, but I would advise viewers to skip Book 3, which came out 8 years after Book 2 and was not nearly as good as the first two parts. Books 1 and 2 are classics, though, even with their soapier elements, and they are well worth watching.