Since I now have over 50 hours playing this, I have to say I enjoy this far more than I thought I would. It definitely has a far different feel to it than any of the other edition of D&D, whether Moldvay, 1E and especially 3E or later.
I thought I would hate having to "qualify" for a class, let alone the classes like Ranger and Assassin, but I have to say it does feel truly special when you finally do.
I definitely think the game of D&D has had many improvements since this was published in its original form way back in the mid 1970's, but I have come to really like this game based on its own merits. I like how gritty it feels, how you kind of feel naked when your low level, and how all of this sparseness some how makes it feel like we have really achieved something when we can finally afford better gear, or find something magical, because I spend so much time thinking I am not going to survive. Then I do. We do.
Like I said, many things I prefer about new editions, I would like to see fighters be able to do more attacking, I really, really, REALLY appreciate clerics getting a healing spell at 1st level and I like a better defined skill system, and other things.
On the other hand I do like how... under skilled, under equipped, and pretty much unprepared our characters feel because when we do survive, when we do succeed, it has felt much more like a real accomplishment.
I don't have any plans on this ever becoming my primary RPG for D&D, but I will definitely continue to use it for one shots or short term breaks from other games.
Oh, and I agree, this book is well laid out, and I don't recall finding any errors, certainly nothing memorable. A really solid all around book, and after months of regular use, being passed around to an average of 6 players per session (most of whom are 18 to 20 years of age, with our GM being 20), my book is holding up very well, so still seems to be very well constructed.
So I, and especially my GM, are really happy with this book.