I always liked this period of the series - and not just because of the obvious Briscoe eye candy to come... it brought Barnabas to Collinwood more frequently, and took him out of that self-absorbed "Angelique is comin' to get me again" element. It brought us new characters to care about - and it was easy to transition into caring about Chris and Amy, relative strangers to us viewers, because established characters like Joe, Julia, Carolyn, Barnabas and David cared about them as well.
Yes, some soul of the show went with Alexandra Moltke's departure. At the time, it was reported in the trade papers Alex was leaving the series as she was expecting a baby (she'd been newly married the previous year), so I wonder if fans expected her to reprise her Victoria role after a stint with motherhood, or once the 1897 storyline wrapped up. Betsy Durkin was a gutsier Vicki in her confrontation with Nicholas, but she reverted to a whiny, hand-wringing wimp in scenes with Jeff/Peter (Roger Davis). The writers were wise to fade both Vicki and Peter out (pun intended) as quickly as they did.
Grayson was a hoot when she jumped back and mistook Chris for Tom Jennings at the hospital. I survived the loss of Eve, but looked forward to Marie Wallace returning at some point as a twisted new character. She didn't disappoint us!