You know what? As much as I'd love to be open-minded, and say, "Sure, with the right group!" (and I think I did say that in another recent poll), I've had some time to think about it, and honestly, I'd have to say:
No.
With the "right" group (whatever that means) I'll do anything for a one shot. Would I play a weekly campaign for three years in 1st Edition? No. Would I play the same in a 2nd Edition AD&D campaign? Hell no.
I love reading the old books. I regularly pillage them for ideas. But if you're playing the game, then you're not pillaging ideas. You're actually using the mechanics. And 1st Edition would drive me CRAZY right now.