It is quite fun and one of the best, IMHO. And since the first one, there's been a greater and greater diversity of games being played. Now, there's no question it is geared towards those old school games and feel - and that infuses it with a certain camaraderie of common backgrounds (for example, horrible death, both given by and received from the GM are jokingly seen as badges of honor).
The best part, IMHO, hanging out with friends, partaking of drink if it suits you, and maybe playing a boardgame of some sort that you just decided to grab because you were sitting around drinking with your friends. For example, there were a a few of us just hanging out on Wednesday night (before the official con started, though there were already folks playing RPG's in various corners of the hotel) having a beer or three, and somebody grabbed Wits and Wagers off the stack o' games (there are many people who bring games and just set them out for folks, though there is one gentleman who brings tons and it forms the basis for the Open Gaming Room Stack O' Games) and started playing. By the end we had 6 or 7 people, some we didn't know who we just invited to play when they sat down with their drinks. We closed the bar doing that...
Then the con started..

So come on down and we'll have a drink on me and play games for 4 days. By the end, you'll want every con to be like this one.* And don't you know walkerp? I've tried to get him to come down as well, but he's so damn busy..so grab him and get a room (it will be about $225 a piece for the full 4 day stay) and we'll have a blast.
Anyway...derision was the wrong word..more like...crickets...
* I hear the North Texas Con is like this as well, but I haven't been - though I did get the wife to agree in principle to let me go, I just can't swing it financially.