Yes, I would. But then, I love MUDs and text-based adventure games.
Be careful with graphics, though.
Simple graphics can easily be labeled as crappy. If you're going for lo-res graphics, design them in some unique or quirky way as to let the prospective players know that the look was a deliberate choice and not a mere afterthought.
Well, you could do neat stuff with text too. It depends on the platform; frex, a lot of text input on a console doesn't sound too hot.
Good luck.