Seems pretty fun to me, would say this version of the game is actually pretty good. Similar to how WoW Classic and SoD versions were pretty good.
Crafting is currently fucked up. No writs, and you don't even break even selling the shit back to the vendor, so it's a money sink for marginal reward. There are a ton of players on this server, so lots of shard hopping, which makes farming nameds and getting elite gear/spells much easier. This also adds to crafting being borderline pointless due to it being a money sink with little demand because everyone is getting drops.
Outside of crafting, which could be fixed to a large extent if they just tinker with sell back prices, the rest of the game is pretty solid. It's just not a solo friendly game, so you either need to make friends, which, lots of people playing, or you run your own Necro/Conjuror army and box. The server is already usually "Full", and I think they had to build this server just to run this old version of the game, so not sure if there is actually a cap or not that can be reached. They do the shard thing, so there are usually a bunch of identical instances of each zone up all the time, each filled with people.
As far as bugs/lag, not having any issues, even with everything turned on and cranked up. As far as cash shop, it's minimal. The biggest annoyance is having people buy horses off the website which gives them run speed a little faster than a bard. But, outside of travel and harvesting, not a big deal. But annoying when harvesting.
I feel like I can get 3-6 months at least out of this. This server attempt is not perfect, but I guess it's as far back as they can go. This might be as good as it gets for this game, which in the current MMO environment, might be one of the better options available for a bit.