Yeah, the horror reputation is similar. The rules are pretty much just houseruled B/X, although better organised than some retro clones (darn it Basic Fantasy, why is my to-hit bonus in the combat chapter?).
The adventures are also the best and the worst of old school design. Powerful monsters can sit the sandbox, but they can generally be avoided or reasoned with. But there's no excuse for some of the traps. I'd never run them without alteration, but they're good enough quality to be worth altering.