Over on RPGNow Mongoose has released several Classic Moorcock products including 1e Stormbringer and 4e Elric! in PDF. You can check it out here.
While I never used Stormbringer myself I always enjoyed reading the books. Like other Chaosium RPGs of the time it is based on Basic Roleplaying. Also from what I heard let's hope they release the Corum supplement as supposedly it makes for a kick ass general Swords & Sorcery RPG once stripped off it's setting specific elements.
To me the Old School Renaissance is not about playing a particular set of rules in a particular way, the dungeon crawl. It is about going back to the roots of our hobby and seeing what we could do differently. What avenues were not explored because of the commercial and personal interests of the game designers of the time.
What are RPGs?
A game where the players play individual characters interacting with a setting with their actions adjudicated by a human referee.
Rules are an aide to help the referee adjudicate actions and to help the players interact with the setting.
Dice are used to inject uncertainty which make a tabletop RPG campaign more interesting than "Let's Pretend".
The only thing a player needs to do to roleplay a character is to act if he or she was really there in the setting in that situation.