I just played it for the first time and, while my hero didn't make it past the second room, I loved it! Dungeon creation is balanced well between having guidelines (as every letter of the the alphabet has been given a room shape, number of entryways, etc.) but remaining unrestricted (the particular rooms don't necessarily need to maintain the order of the title and author's name, for example). The Alternate Combat rules are a bit easier to follow than the original Combat rules (but they weren't too difficult to follow anyway).

I would love to see some way to heal your hero and/or gain experience points so it isn't always so difficult to beat the stronger monsters (the minotaur got me on my run).  For example, I might try this game with the books I'm currently reading and maybe add in my own mechanic for earning HP or XP by reading a certain number of pages (or maybe earning XP for the sum of your attacks with the original Combat rules (so "the" would equal 9 points for our hero) and having level-up thresholds).

I'm excited to see the next iteration and will continue playing the current one until it comes out!