This is probably blasphemous, considering where we are, but I actually preferred Carnivale; it enjoyed the benefit of its creator babying the series from the Pilot to the Finale, with a concrete, written-down mythology to use as the show's framework*. To further blasphemy and possibly warrant excommunication from these boards, I think that David Lynch can take a few lessons from Daniel Knauf when it comes to laying out a story. Should the day come when God smiles on us and TP is revived somehow, if Knauf were somehow on board, I think I might just crap my pants.
To be fair, though, Carnivale allowed me to enjoy Twin Peaks all that much more. Had I not seen Carnivale first, I don't think I would've been prepared for, nor had the patience to sit through, Twin Peaks. But I did see Carnivale first, and doing so allowed TP to become one of my favorites of all time. If it weren't such a beloved show for me, of course, I wouldn't be here.
*And Clea Duvall, whom I find slightly more attractive than any of the "Peaks" girls.