I think this is a great set. I had a bad day right after these came out and picked up this set (it looked very cool for only 10 USD) as a little pick-me-up. When I put it together I was not disappointed. As has been said, the 2 rowboat merger was very clever. The jewels hidden in the plates between the boats was kinda weird.
Overall I was so excited (especially by the figs) that I didn't mind the lack of sails. Still, it needs more oars or
a sail. And the little "tack-ons" to the oars were kinda lame.
While I wasn't crazy about the wyvern, I thought it was clever to use such small pieces (like fishing poles) that could be useful for other things (as opposed to the relatively large and solid dinosaurs in the Dino Attack line).
I assume that recent lines like Vikings, Batman, and Dino Attack include a "bad guy" to bump up the playbility for kids that might only get a handful of sets. Hope LEGO starts making more money with this approach.
And Steve, I'm surprised that the stickers are tough for you. I find that applying round stickers to the discs are the easiest of all the LEGO stickers. I wipe down the disc prior to application, lift the sicker off the sheet while gently depressing the center so the middle "hole" stays on the sheet, and ease the inner circular edge of the sticker abutting the center protrusion of the disc; I lower the sticker until I'm sure that the "hole" will clear the protrusion, and then smooth it out. As long as one part of the inner edge of the sticker just touches the disc's center, the sticker lays out nice, even, and almost perfectly centered. I don't know, maybe that'll help.