Telika: I was about to say basically this.
HereForTheBeer: I'll third this, because the graphics and sound simply don't matter. The gameplay itself is enough to stand the test of time, regardless of what it's wrapped in.
I played many of these games when they were originally issued. Master of Magic did indeed retain all its interest.
The same can be said about Subwar and Master of Orion II. Many former Microprose titles are still very good nowadays ( beside the ones found on GOG, the XCom series, Machiavelli and European air war 1943 ... )
Nirth: With that said I would have to say these games have
not aged well: (I choice not instead of listing the games I do like consider the numbers I'm okay with)
Ultima 6 and earlier
Fallout 1
We have to agree to disagree on those. While I would indeed leave ultima IV and earlier rest in peace, V and VI are worth, imho, going beyond their obsolete appearance.