The thing I've noticed about C&C, that I suspect is similar in OD&D (though I can't know for sure) is that people play archetypes - you are the party cleric, wizard, fighter, or rogue. And, around those archetypes are assumptions and restrictions. It's a very simplistic model, and if you want to deviate from that model, you're going to be in a real pickle. That was the immediate first thing I noticed about C&C - it's super easy to make Bob the fighter, who wears chainmail and wields and longsword, but if you want a dex-based fighter, or a sneaky cleric, or a fighting rogue, you're going to have some problems.
The tradeoff there is the ability to create a character lickety-split, which I suppose is great, but it is a tradeoff after all. The thing I've noticed in C&C is that people are clamboring more for options - multi-class and dual-class options, and some more combat variety and options. So, I think the lesson here is: nostalgia is nice, but you can never really go back.
I mean, VW Bugs are neat cars, but it just doesn't have the same features that people have come to expect from newer cars. So, while some people still enjoy their 1962 VW Beetle, you don't see a huge demand for them nowadays.