While this show does suffer from a terrible pilot episode and occasional bad writing, this first Lupin the Third series is a landmark in the history of animation. One of the first animated TV shows intended for adults, it was a failure upon its initial airing, and took years of reruns for it to get a boost in popularity.
The show is of course dated in some ways. The animation is of the limited 60s/70s variety and the music is psychedelic. But as someone who watches movies much older than this, it's not that distracting. The show is full of action, comedy, and great characters.
It's less kooky and formulaic than the later 1977 Lupin series, and the first half of the show is especially dark. Lupin was rarely ever as borderline villainous as he is in the first half of this series, save for his manga incarnation.
Many modern anime fans won't give it a second look, but if you appreciate anime history or just plain animation history, then Lupin III is not to be missed.