Frankly, any time you are asking for a 'Rule Light' system, I'm inclined to here unintentional irony.
But I'm not asking for a rules light game. I am asking for D&D, which is arguably rules-medium, even back during the Basic/Expert days (I am unfamiliar with OD&D).
Besides, the 200 page limit is perfectly plausible: Basic and Expert combined were 176 pages, and it is hard to argue together they were not a complete game offering years of entertainment.