This is another of those underrated classics that I have used time & again - most recently in 3E.  As hong might say "a railroad runs through it", but I found it plays well enough.  The first time I ran this (back in 1E) I was worried that it might prove too deadly for the players, as the module punishes parties that get loot-happy - & 1E parties were notoriously loot-hogs. 

  But the players took the in-game warnings seriously & stayed on mission, avoiding most of the nasty tricks & traps.
This was one of the last modules I ran in 2E as a one-shot before 3E came out.  I permitted use of most of the 2E expansion materials as a farewell to 2E's rampant munchkinism.  But I failed to scale up the module's challenges accordingly & the party had far too easy a run of it. 
 
 
In 3E, I used I2 as a follow-up to the N2: Cult of the Reptile God.  In that module a fallen cleric of Merikka was able to pray for & cast high level spells while under the influence of a naga.  I reasoned that some divine force must be actually granting the spells to this cleric & created the "Dark Serpent" Cult as this divine force's earthly representative.  Thus the naga in N2 & the lizardfolk clerics in I2 were parts of this cult's world-spanning conspiracy.
Anyway, I've always liked this module.  Lizardfolk are fun, & swamps rock!  

  And properly played, Sakatha the vampire Lizard King is a great challenge to a mid-level party.