I just completed the Shadowlords / Dreamcatcher / Demon modules. They were FAR better than the first three official modules.

What I liked:
* Role playing! What a concept. Your decisions matter. Your alignment can change. There are non-combat resolutions to situations.
* Story telling. Adam Miller spins a good yarn. The continuity between the modules is very good. I felt invested in my character and my henchman.
* Variety. There are lots of interesting places to go and lots of different things to see. It is never boring.
* Not a hack and slash, not a treasure hunt. There is a reasonable amount of combat and treasure. It does not drive the game though, the story does.
* Planescape. Demon takes place in the Planescape. It is pretty well done. I really liked the gate diving part of the game.
* Power gaming is not rewarded. In fact it's pretty pointless.
* When it ended, I wanted more. 'nuff said.

What I didn't like:
* In Shadowlords and Dreamcatcher, you can't modify your henchmans inventory. I selected Tiera as my henchman (and romance). She didn't have a ranged weapon. This could be a bit of a problem. Since the game is not combat intensive (like the original campaign), it is workable.

Highly recommended.

I'm sure others have played it and I would like to hear what you have to say.

I actually finished these a few days ago. I agree with everything you said, and I liked that, at the end, I felt my character's story was complete. The extra sequence at the end of Demon was so dramatic; it was brilliant. And there were so many good ideas, although I never bothered with the alchemy and such in Demon. But it was very Torment-y.

I didn't take full advantage of Demon either. I could have done more with traps and alchemy.

The second series doesn't work with the PrC pack. That's a shame.

I actually did not like Demon myself. Well, as a module it was great, but it simply did not fit well in the series. I think Mr Miller should have made it a seperate module concerning a different PC.

Deep inside, I'm also a bit tired of those modules where your character is "too special", which are already plentiful. SL/DC made you feel like the classic adventurer, and this was a bit ruined in Demon, in my opinion.