Certainly as far as power, torque delivery, economy and servicing are concerned, it's a cracker of an engine. I ran the AVF variant (the supposedly 'high-torque' version) mated to the 6-speed manual in a Passat B5.5 for over 5 years and 60,000 miles.
The VAG powertrain guys had really done their homework with the fuel and boost mapping, as the throttle response was always sharp and strong anywhere above 1,500rpm, making it a surprisingly brisk car point-to-point. The 4th gear increments from 30-50, 50-70 etc were all around 5 seconds, give or take, which meant good, safe overtaking punch.
Mine averaged a genuine 46mpg at the pumps during my ownership, which was remarkable for a big old family barge; it would regularly give 50mpg over a tankful.
Of course, not even its most ardent admirer would call it smooth or quiet: it was a gruff old thing.
I've also had the pleasure of driving a remapped unit in a Fabia vRS and that was hilarious - some 280ft-lb of torque in that lightweight body means it absolutely flies