I ran a brief Hamunaptra campaign several years back. It was great fun, but I had a hard time creating adventures for the setting.
I do think that unless you have a region that is already "egypt-themed" there's not much for stripping out and using elsewhere. If you DO have an egyptian region in your campaign world, I think you'll find it very useful.
It is well-written, evocative, and very playable. Just be prepared to spend some time working up a campaign from scratch or by putting together a lot of your own transitional pieces while using other modules.