Okay, so I did as I promised and watched through episodes 5-7. And here's what I think...
Episode 5 - This totally reaffirmed my dislike for Pinkie Pie. She's... well, still incredibly annoying. Though she did attack me with my biggest comedic weakness: The fake glasses with the fake nose and mustache. I can't even explain it but those get to me
EVERY TIME. Like this:

I LAUGH AT THIS I THINK I HAVE A PROBLEM
anyways
Okay so I admit Gilda needed to get b****-slapped (especially when she got all up in Fluttershy's face (yes I think I'm developing an attachment to her)) and I admired Pinkie Pie's persistence but she was still annoying, and the rest of the episode was pretty predictable, so... Nothing special about this one.
Episode 6 - ... it opened with a random mustache. I think this show is desperately trying to appeal to me. But the horse puns got horrid and I realized it was a FUTILE GESTURE!!! ... anyways... Trixie is a b**** and I wanted to see her taken down but didn't the last episode involve a b**** that needed to be b****-slapped? And like Episode 5 reaffirmed my annoyance with Pinkie Pie, it
strongly reinforced my hatred of Rarity. Then again I hate snobby characters that are all about fashion in general. Although the part about green hair got a laugh out of me. As did the Ursa Minor's goofy smile. But the plot... was completely predictable yet again, and they took a good thing (the random mustaches) and ruined the joke. And I'm getting tired of these letters to Celestia. But seriously, THEY RUINED A GAG I LOVE TO DEATH. I MEAN LOOK AT THIS FOR EXAMPLE:

THAT IS AN AWESOME RANDOM MUSTACHE (and ironically the episode revolved around a seahorse which is close to ponies I guess). But I guess I can commend the episode for not having Pinkie Pie but it loses points for no Fluttershy.
Episode 7 - Opens with Fluttershy, this is good so far... ... and that rabbit was awesome. Also Rainbow Dash's stripes she painted on her face look like bacon. I approve. ... anyways, as for the episode itself, it was much better than any of the others I saw. Up until a certain point and it started to regress again. I blame Pinkie Pie and Rarity; I can't stand them and I honestly think if they were taken out of the show I could probably enjoy it. But... the plot got predictable again, and I'm not sure whether to treat the giant sleeping dragon on a pile of gold as a ripoff of or homage to Smaug in
The Hobbit. Although when he started to cry it was funny. Otherwise, it was an okay episode... definitely not one that can draw me into the series. Especially since Pinkie Pie and Rarity are still there.

Well, guess that's it then: The show officially isn't for me. Yes, I solidified Fluttershy as a likable character, Pinkie Pie and Rarity as incredibly annoying and need to go, and the rest as "meh" characters, and that's... probably about as far as I'll get. But at least I gave it a fair chance.