As is Mistwell, I am a fellow devotee at the throne of Monte.
AU is quite good, but it won't fit everyone's needs. The Magic system is as flexible as you can get without going to Power Points. Almost every spell has an augmented and diminished version, as well as feat-acquired templates that can be added for extra results. The spells tackle topics like healing, teleportation, food creation, resurrection, etc. differently from 3E, fixing what Monte sees as small problems of logistics in game design.
In short, he took the classes, spells, and races, and fulfilled all the various needs of D&D, but by rearranging all these elements in a way that is almost 90 degrees askew from the way 3E does it.
Someone who doesn't like the idea that there is no clear-cut "thief" class, or that there is no clear-cut "archer" type, but rather several ways to implement each, may not find it to their liking. Also, people who do not like the assumption that humans are NOT the predominant race may not like it, either.
Me, I like it, and hope to get a chance to play it again someday. As it is now, we have a lot of different gaming irons in the fire, and I do0n't foresee an AU game for quite some time to come.