Overall I think you captured the vibes well, but there is room for improvement when it comes to design.
I like the art & the vibes. The layout is ok, but some of the initial descriptions for the areas don't make much sense like area 1 puts emphasis on the names etched into the stones, when the wind & the shadows would actually be what a character would first notice. Half of the area 1 bullet points also have no explained mechanical purpose so why are they in bullet points? You could also state it more clearly that from this point on torchlight is needed inside the forest. I feel like there was a lost opportunity to have the "old legend" be somewhat true like summon the person's ghost inside the archway & maybe act as an NPC that can tell the players of the area.
I also don't like gotchas like the well & the ring so I would somehow try to telegraph that looking into the well or touching the ring might have dire consequences.
The monster levels also seem quite high for a lvl 1-3 adventure. The treant has a weakness but spawning multiple wraiths to punish players for doing what Shadowdark was designed to encourage (explore & loot) is not good design. Its also unclear where exactly the "bucket" is. Do the players need to get it from inside the well or has it been hauled up?