oh yeah, I believe it, Ed.
I did the 3.5 conversion for my daughter who is running us through it (I purposefully am NOT answering any of the riddles, mind you, but that leaves Denise and our room-mate and between them the puzzles have been a joke at best) - and was glad to only have 16 pages of material to work through for the conversion.
Had a LOT of fun writing up the rules for the chained-disks over the mud-pit room, since there were basically NO rules for them in the 1e module and since all the stuff you do on them is easily covered by the rules in 3e.