I played it as a ten year old and loved it. It has great game mechanics and loved the interplay between empires.

But having read several books on what colonisation actually means I would be reluctant to play it again.

For some reason for me Civilisation the game keeps it at a fictional enough level that you are not re-enacting whereas colonisation does not keep that level of separation.

The big question in the room is should you be re-enacting historical slavery for fun?

I could probably play a game where it wasn't historical and feel ok with it like a science fiction game but when it's something as insanely terrible as the trans-atlantic slave trade and you want to 'play' that game it feels morally wrong to me.