I've run this twice. I think it's a fun module to run and it has some interesting encounters. I think the maps and the story are easy to follow for the DM. I liked it as a player and as a DM.
I disagree with the comments that its boring. I think its a fun module.

A functional and atmospheric scenario. It's well-written and the encounters have a nice variety to them.

This has been one of the most boring scenarios EVER. The premise and flavor is interesting, but my players realized what it's all about after the first hour. After that, everything went downwards and the final fight was ridiculously easy.

Boring for both GM and Players, the flavor saves this mod from being a complete waste of money and time.

I've run this twice now and both times worked well enough.

The good: Several of the encounters had interesting terrain features and other possible dynamic elements that could add more flavor to the situation. There was also a kind of “skill challenge” which everyone enjoyed. An the threats against the characters were varied and didn't amount to just raw damage, but instead having condition effects which give more layers to the encounters.

The bad: It was a very railroady adventure. I know it is difficult to avoid doing this within the confines of a 4 hour time slot, but I have seen it happen. There really wasn't any ability for the party to approach the situation from a variety of different methods. How everything was linked made sense and was fine, but the player quickly realized they were in a rail game and just sat back and enjoyed the ride.

Also, there was one too many encounters. In both games we ran over time which made the end a frantic affair of summing things up and filling out certs as quickly as possible. This is even after I drew the encounter maps on square inch grid paper in advance.

Overall everyone enjoyed themselves, but the rail structure and little breathing room to roleplay knocked it down a couple of notches.

I enjoyed running this scenario and my players had a good time. Given the advice of the previous reviewers, I played down the 'real' villain's early role, glossing over any dialogue with that NPC so that there would be more of a surprise in the end. It seemed to work and the players were fooled. The players also enjoyed the ship combat and were creeped out my some of the other encounters.

Despite the well-declared obvious, predictable plot, the atmosphere is good and the fights make sense. What doesn't make sense is how easy the fights really are. Some of the high tier encounters are just so flawed they can be soloed with a 5th-level wizard.

Regardless of some ingenious moments, there's always a balancing stupidity. The scenario is by no means bad, it's just so average. I'd still want to see more from the author.

The premise for Perils of the Pirate Pact is a simple rescue. The real villain will be obvious from the first scene. My character enjoyed tormenting the poor villain hoping to get the final battle over early but the DM stuck to his guns allowing me to taunt the entirety of the game. If you like pirates and ship battles then you have already played this one. If you like harassing the antagonist for a few hours you should play this one. It's priceless for the sadistic part of you.
On my running of this I was able to fool the players into not knowing who their real enemy was until the end which worked out well.

This scenario was a great introduction to The River Kingdoms. I’m a fan of any adventure where players get to run around on a ship, although it only lasts a little while. The biggest let-down with Perils of the Pirate Pact is the fights are too easy. That often happens when PCs face off against human opponents who can be critted, blinded, sneak-attacked and generally slapped around. The plot was easily uncovered and it takes an unconscious player not to know the score right from the introduction. I did enjoy the way the fights were set up however. The author does a fine job of establishing the mood and scenery. The encounters are thoughtful and well-timed. The players may feel some apprehension but once the dice start to fly it’s all over. The fights are fun but there are no nail-biting, edge-of-the-seat moments. The maps were fun to draw though. Faction missions were typical—make a skill check, pick up an item/body part ;). As I said earlier, campaign setting flavor is better than average.