If you were looking to start a new campaign, I would highly recommend it.
If you want to play it out of the box, then you will most probably find that the players will feel a little boxed in (I would not call it a railroad in the strictest of terms; just well guided and signposted).
However, if you take the time to expand some of the sections, change others around and generally put your own stamp on the campaign, then I think you will gain the true benfits of this wonderfully written and conceived adventure series. In addition is the fantastic support on the paizo website where downloads for each of the modules are available as well as a highly populated messageboard for asking a slew of questions. Here you will most likely run into the authors of each of the modules if you need to ask a specific question or two.
In my own Age of Worms Campaign:
- I used the Greyhawk Setting (for which I purchased a few 2nd ed. odds and bods)
- We use the Core Rulebooks and the Complete Series for the rules (We are actually playing ruls as written -
No Houserules! 
)
- The characters in the main are non-optimised, (rolled stats are certainly interesting - in eight characters we have only had two 18's)
- With a party of five, we had no casualties for the 1st and 2nd modules (very much opposite to what others have experienced) but just recently with another player added, we lost two characters to one of the Spawns (a very nasty encounter).
My main deviation away from the modules is to try and breathe a little more life into Diamond Lake by putting "Lord" Smenk at the top of the heirarchy there. I weaved one or two other threads in to fill out a few motivations for the characters but have otherwise stuck well to the central thread of the modules.
In short, I thoroughly recommend giving the Age of Worms a go..
Best Regards
Herremann the Wise