I haven't gotten any wave fives yet, but imo, the paint job on the BBs in general is poor. While some of the ponies look nice, there are many in my collection where the hair/mane paint either doesn't cover all the hair or leaks onto the body. It also bothers me that some of the ponies have paint "seams" sticking out from where the plasticky paint substance was just slapped on, then dried to form a sort of ridge (especially at the top of the head). I love the BBs, so I collect them anyway, but I have actively searched for doubles on some of the poorer painted ones.
The little Ponyville ponies had SUCH nice colors! It looked liked differently colored plastics were used for the separate parts. With the BBs, it's obvious that its just one chunk of plastic slapped with color.