Ran it twice. The first time as a kid not long after getting the basic set. I don't have alot of memories of it except that it involved alot of huge fights, and lots of resting between fights. I remember the players holeing up in the secret room between orc caves, and lots of fleeing the dungeon with hordes on thier heels. The goblins especially are designed to dump thier whole tribe down on the PC party immediately - and then call in help! The kobold fight at the pit entrance is pretty enormous as well. I think we started with like 8 characters and lost seven or eight PC's over the course of the module, finishing with like 4 or 5 survivors - who then went on to face X1.
I ran it the second time as a more mature DM using a redone map*. Still had a tendancy to turn into huge slug fests, but since most of the monsters are really weak very quickly they lose the ability to hit anything. Still killed off about half of the initial party but almost all that was before the players got platemail, magic shields, etc. Unarmored classes just don't survive.
I personally think its a pretty poor module, that encourages extremely tedious largely undifferiented mass encounters with limited largely featureles terrain. That each tribe has a different alarm system is about the most creative thing about it. Even ran as well as I could manage with conspiracies, betrayal, mature maps, mini-bosses, etc. - looking back it just doesn't seem like alot of fun. Of course, the funny thing about that perspective is that the players always seem to enjoy the heck out of it. Whether that's due to the fact that its often their first experience with D&D, or whether its because simple hack-n-slash really is the heart of D&D, I don't know. I do know that I don't regret having the module basically memorized, whereas some of my other favorite modules to run (or play) I wish were still fresh and unspoiled so I could play them again.
Of course, as primitive as the module seems to me now, its light years better than any of my first few attempts to make my own adventure. There are things I think you can learn from the module, but I don't think I'd ever run it again.
*Map changes: Break the caves into levels with the goblins and kobolds on the first (lowest level) and so forth. Added new content between 'levels' (a gatehouse with bandit gaurds at the entrance of the ravine, an arena where the tribe resolve thier differences midway back, and a lesser temple complex in the rear where the demihumans are indoctrinated into the cult), and shifted the map so that the Minotaur's maze gaurded the entrance to the greater temple.