This was in my Easter basket (took advantage of the TRU BOGO deal) and I quite enjoyed putting it together, but thats because I really don't have many pirate sets. I can easily see how AFOLs who have MOCed boats would think this isn't all that good because you use the advanced techniques that hide the flaws this set has. I feel the same way about most Sw and city sets because I have several UCS and Modular homes. regardless, I have to say the minifig printing is topnotch and matches the really good POP figs like Nizam.
I think the reason I like this, but not the regular lego boats, is it has a bunch of super cool details like the lanterns, skulls and bones. I even put the stickers on; I have enough regular windows and doors as it is to where I didn't mind stickering the ones in this set.
I will say that you could make a really nice UCS version using two QARs and a ton of jumpers.