I haven't played it yet, so I don't know if the good outweighs the bad. I did play multiplayer Halo 1 last night for the first time in quite a while, and it was great. My roommates who haven't played much teamed up against me, who haven't played much VS. but have spent many many hours on campaign mode. It was a slaughter. Very satisfying. And yet deceiving because I know how easily most people could slaughter me.
I guess they were just THAT bad.