I'd be happy to play a game with first-edition feel, but I didn't like the first-edition rules, even when AD&D was (literally) the only game in town.
I like the fact that the old game was not narrowly defined, and you were expected to tackle open-ended problems without going down a list of clear options from your character sheet. On the other hand, it was still quite constrained in odd ways, including in combat, with the AC and hp mechanics making it hard, say, to hamstring a giant or chop off a goblin's spearhead as he poked it through a murder hole in the ceiling.