I'm currently running Keep on the Shadowfell, and intend to go on to Thunderspire Labyrinth, Pyramid of Shadows and so forth, right through to 30th level.
However, during all of that time, I'm keeping a wiki of what's happened, what's happening and so on and so forth, at Obsidian Portal. The long term goal is that the players actions in this game will form the history of the next game, and so on and so forth throughout the years.
By using the pre-made defaul PoL setting, but letting the players write history from here on in, I'm hoping to get the best of both worlds.
For a start, I ran them through Into the Shadowfell from the Worldwide D&D day as a starter adventure, and as an epilogue they discovered that the two boys that they rescued are the secret scions of the Kaius dynasty mentioned in the adventure. As such, they are now seeking to revive their family line and start to rebuild it's power. This is going to have some interesting consequences, depending on what the players do.