Colonization is an excellent game, especially for its time. I still go through a sort of "gotta play col" phase once in a blue moon, and when I do I praise the good Lord I've got a patched DOS version actually working under Windows XP (and it's a shame I can't say the same for Master of Magic).
The whole economic approach to the game is pretty nice too, as it's historically appropriate and you don't need anything real complex, since there's no governments, techs, and so on. I just wish the game didn't get ships on the high seas confused (resulting in mixed-up cargo), and the limit on the number of automated trade routes you can have is the other real annoyance (albeit a lesser one thanks to customs houses).