But, there's a difference here Lanefan. AFAIK, you're not advocating completely rewriting the basic premises of the game, abandoning wholesale most of the mechanics
I'd say I've mostly already done all that. My pie-in-the-sky dream would be to drag the rest of the game along with me, but I'm not holding my breath...

But the game I play now has but a passing similarity to the 1e D&D it started as in terms of rules or system; though the 1e high risk-high reward spirit is alive and well.
I know you fiddle with the advancement rules, but, I've never seen you talk about turning D&D into a classless system, or building every single creature from the ground up.
Classless? Never. Build every creature from the ground up? I'd love to, if I ever had the time. Instead I've been thinking of ways to split apart some of the things that make a creature tick - right now its level (if NPC) or HD (if monster) define a lot of things that would be better served by being separate: Combat skill, hit points or hit point range, saving throw capabilities, skills and abilities, to name some.
I'd prefer to be able to have an NPC Sneaky-type, for example, with the Thieving skills (open locks, pick pockets, etc.) of a 6th level Thief but the combat abilities of a commoner and the saving throws of a 9 HD monster. Now one could easily say it's my game and I can do what I want and it would be true, but the internal consistency of the game world falls apart unless I can define it all somehow.
For PCs this split would open up a bunch of options as well, which again would require an extensive re-design.
If I was constantly rejiggering the game to the degree that is being suggested here, I'd certainly never try to claim that this isn't a bucketfull of work.
It is a bucketful of work. But it's just a big a bucketful to learn a whole new system and then tweak that to suit what I want, so it simply becomes a choice of which work I'd rather do.
Lanefan