Sethan, I'll ask you this: Was Atlantis, for a series opener, better, worse, or average in comparison to ST: TNG, ST:DS9, ST:Voyager, or even SG-1 itself?
For me, it was better than all of them.
Was it perfect? No, but then again if it was perfect I'm sure a lot of people complaining now would be complaining about the colors of the uniform or just how deep were they because you could see sunlight while they were still submerged, or that they should have surfaced the city themselves from the beginning.
I'll give you a damn good reason why the ancients couldn't fight off the Wraiths, even if the technology was similar...the ancients were wooses who didn't know how to fight a real enemy. They got so used to whomping all over everything else in the galaxy that when faced with an enemy their equal, they got their butts kicked.
As for shoulder-fired SAM and SAW damaging the enemy's high-tech ships...well I seem to remember that you know some physics, Sethan. If you do not expect an enemy to fire weapons that due damage by kinetic energy/penetration instead of energy delivery, you won't armor yourselves correctly. A heat-seaking missile will track a fusion reactor, or whatever, just as easily as it will track a jet engine. A four-pound explosive warhead hitting a ship not armored against it will do damn impressive damage.
Notice the female wraith's reaction to the earth's population being in the BILLIONS. They haven't had a feeding ground like that in millenia...since they first conquered all the human worlds in the Pegasus galaxy, and the Ancients. That Ancient city looks like it can hold tens of thousands...but not millions...and it was the home of the Ancients. So, let's say an Ancient population of 1 million, just to be very nice. Let's say another four or five low-tech humans seeded on a thousand worlds (remember, we didn't hit the one billion mark until the 20th century here on earth). The wraiths definitely ountnumbered the Ancients at the time of their conflict, and probably were pretty close to human numbers throughout that galaxy. So, they had numbers, and hunger, on their side when they beat the ancients. The technology was at least equal to the Ancients, which fit what we saw on the screen. The puddlejumper had drone weapons, and two or three each took out a Wraith ship. Good flying, human skills, not Ancient technology kept the ship in one piece.
I can't wait for more...