I've encountered some people who claim to have done so. Regardless, I feel the need to attempt it at some point. I played 1e for over ten years! I want to learn what the heck it was I was ignoring the whole time.
I did run it for the 1E demo games I've done (two, last year). In play, they didn't turn out too bad, but I did streamline some of the "wilderness" stuff. (Buzz, does this count as the "if you change X" post? )
That document shows what a complete and utter train-wreck the AD&D Initiative rules were.
Consider the following:
Raven casts a web (casting time 2 segments) while Thork attempts to hit him with a longsword... Raven lost the initiative.
If Raven lost on a roll of 1, the web is cast first.
If Raven lost on a roll of 2, the web and sword strike simultaneously
If Raven lost on a roll of 3-5, the sword strikes first and disrupts the spell.
However, if there was also a bow firing into melee (and was lucky enough to randomly select Raven as the target)...
If Raven lost on a roll of 1, the arrow strikes first.
If Raven lost on a roll of 2, the arrow and spell strike simultaneously
If Raven lost on a roll of 3-5, the spell works first.
An added factor is that some of the rules are scattered throughout various books (the various special condition suprise factors), often without examples of how to reconcile apparently different rules (such as the different dice used for certain classes suprise rolls).
This doesn't mean that AD&D was unplayable (far from it). However, no one I knew ever used it as written. Certain rules were almost automatically thrown out by all groups (the unarmed combat rules being top of the list) or ignored (portions of the suprise/initiative rules).