I really, really like P2, Demon Queen's Enclave, but when I ran it I really played up all the factions and politics and my players totally bought into it.
I think H2, Thunderspire Labyrinth, would make a great sandbox area if expanded properly.
This was exactly my thinking on these two. I couldn't see any way to make P1 Trollhaunt not be alternately grindy & railroady though, but I'm planning to go back to it in a year or two. I have this idea that it might work well as part of an Arthurian-meets-Game of Thrones Paragon campaign where the PCs are the Lords of Nentir Vale, dealing with Therund to the south, the Skalmad threat perhaps forming an impetus towards political reunification.
I'm looking to run P2 this year; it looks like it can work as a political/sandbox/infiltration adventure with a short high-combat climax, being very careful not to get sucked in by the staging of the 'delve' encounters and remember that most of these creatures are NOT supposed to attack immediately, ie go with what the 32pp story-book says and ignore the 64p encounter-book as far as possible. Even some of the Orcus encounters look like they would work better as potential roleplay encounters.
H2 looks like a good basis for a sandbox megadungeon mini-campaign, perhaps starting at below 3rd level but will need a lot of work to flesh out. I'm thinking that might be a fun task to start over Xmas 2013 when I'll have a few weeks.