Spell,
I've walked in your shoes and I can tell you from first hand experience, C&C is your best choice for running old school modules, short of running AD&D or BD&D (for the X series for example). I actually prefer the 3.X elements of C&C since I think those improvements makes the game a bit smoother/quicker to run. Blasphemy for a grognard like me I know, but there it is. One other point that needs to be made, this site is dominated by a large contingent of 3.X fans so I don't think I'd take too much away from the overwhelming suggestions that you continue to play 3.5. That's fine for the players, but for a DM who wants to play old school mods, the work load is just outrageous.
I've converted at least half a dozen AD&D mods to 3.X and it's one of the primary reasons that I switched to C&C. You can play the Desert Nomad series w/out any prep time other than reading it and maybe double-checking the spell-casting NPCs. It's actually more difficult to convert 3.X mods to C&C than it is old school modules, but even then, you can do everything but the 3.X NPCs on the fly. I got to the point with my 3.5 campaign that after some dozen or so hours of prep time to get S2 White Plume Mountain ready, I swore I'd never do it again. 3.5 is great for what it is, but if you really want old school, C&C is the better choice.
For what it's worth, True20 looks to be a fine rules lite game. I'm just making my way through it right now and though I really like it, I don't feel like AD&D and BD&D mods will be effortless conversions, not like C&C, with which you can pretty much run the mod as is (converting Movement stats and AC on the fly is child's play).
The typos and editing in C&C are totally overblown by most reviewers. They are certainly a problem and need to be corrected, but it's not like they make the game unplayable. After a brief read you'll be ready to play w/ no problems. I mean, really, you already know how to play it. If you've played 3.X and AD&D it's just basically a blend of the two. By the way, the M&T book has far fewer editing problems and is available now.
I'd say pick up C&C and see if you can't find some players who'd like to have a go at the Desert Nomads (a great series! Hell if you were in Richmond I'd play). If they happen to be 3.5 fans then meet 'em halfway; give 'em feats, attribute bonuses, and then have at it. It won't have a bit of an effect on your prep time. Plenty of customization for your players and single line stats for the DM; it's a thing of beauty really.
You might drop over to the C&C forum at Dragonsfoot for more opinions. Good luck.
http://www.dragonsfoot.org/forums/viewforum.php?f=37