I ran it in the mid-90s, maybe about 2 years of once-a-month games.
It ran fine, other than some rough parts of v2 rules that needed smoothing out. The big one of those was using XP to raise the PCs' initiative to 5 or 6, and totally dominate the battles.
I ran a lot of one-off missions, rather than ongoing operations, so resupply was never an issue. More SpecOps or caper kind of things than infantry warfare. I think I used the Barbados threesome from the Merc book, and a handful of the others.
My group was based in the Caribbean, with a hiring hall in Miami ("big Bob's House of Boom"). They eventually bought themselves a flying boat for transport.
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My Twilight claim to fame: I ran "Allegheny Uprising" at Allegheny College, spring of 1988.
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