Like some other reviewers, I remember this game from its first publication. My copy is now rather tatty, and this PDF version fills the gap nicely.
The game is relatively light-weight compared to games such as Pathfinder, but fits nicely with an OSR theme. In weight terms, I find it heavier than M20 but less so than B/X D&D. Stats are percentile based as is task (saving throws) and combat resolution. The wound system is often noted: it records individual injuries, and a serious wound will take longer to heal. PCs are well advised to not wade into fights simply because they can. Critical success and failure is included, but not varied much as in BRP and similar games.
The setting doesn't really accomodate magic (for those who like it in their games); the "maelstrom" and the use of magic are very lightly covered with too little detail. But that's fair given the overall feel and setting of the game.
I found the PDF clear and easy to read. As far as I can tell, it retains the structure and layout of the original book.
The game is a gem and a piece of RPG history.
[5 of 5 Stars!]