As far as adventures are concerned, the first one is excellent for teaching new players and helping them learn how to work together. The second is a bit more wobbly. I would hardily suggest NOT using the accompanying CD during game play. It talks for the players and is not good. Especially for the second adventure, because it has elements that are just painful.
As a setting, it's actually pretty solid. It really fills in the gap of Karameikos in the Known World of Mystara. The maps are very 2nd Ed poor, but the words are 2nd Ed strong. There is stuff in it that socially isn't cool, but if you ignore those bits, it still works.
Much more than "fine", this is one of the best fantasy rpg supplements you will find. Oozes verisimilitude and adventure, a true blast from the past that has more than held up over the years, especially compared with the drek that's been coming from WoTC over the past 6 years or so.