Alignment - is it any good?
About a third of it is.

I think that alignment is a very good tool for giving very general guidlines. Most of the problems with it are a combination of people taking the alignments too seriously, applying them too generously, and generally misunderstanding the meaning behind them. IMO, all adventurers should start out being neutral on the first day of gaming, and have the DM assign alignments to them according to how they act. 90% of NPCs should be neutral as well.