In practice I find the opposite as I use it to control the tension in the game. You not knowing the AC of a monster or even the rest of their abilities introduces the unknown. Plus, the caps are there to ensure that it's fair. The entire reason why THAC0 doesn't go beyond 2 is that 1 is an automatic failure for combat rolls. That's even with Warriors getting a THAC0 of 1 at level 20. The ACs are capped at -10 for the same balance reasons. That's the thing about 3.x and later abominations is that there is no such thing as balance as there is this massive power creep through the rules.
1 is still an automatic failure and 20 is still an automatic success in 3E and later. 20 is still the level cap and even if you had a fighter at level 20, the difference between an attack bonus of 20 vs. 19 is literally 1 point on a d20. These are equivalent to THAC0 1 and 2.
Despite AC being capped at -10, I never played at a table that actually used that rule and IIRC the Gold box CRPGs didn't use these caps either, so YMMV.
The point you're missing is that D&D and AD&D were never meant to be balanced. Balanced is unfun and imparts major restrictions on the DM and the players. Not every class was equal to the other since the game is not meant for solo play. It's built around the synergy of the four archetypes working together to achieve their goals. That's where 3.x and later abominations lost the plot. They tried to balance everything and in the process they turned a 5 course gourmet meal into a bland McDonalds Happy Meal. I'll take the gourmet meal which is why I can remember all those wonderful adventures under AD&D 1E and 2E while not remembering anything of the 3.x abominations.
You just contradicted yourself, you just went from saying that 3.x was an abomination because there is no balance to saying the great thing about earlier editions is that they weren't meant to be balanced. You really have to pick a side to come down on for this. Regardless, both systems have a sort of balance. Like I say, there is a sense of balance in warriors having a better saving throw progression table over other classes (even though rogues get screwed), but it still won't necessarily help against the level 20 wizard who is flying 50' overhead and raining meteors down on you and then plane shifts when you figure out how to hit him with your sword.
Have you had any memorable games that equal to my blade bard dying at level 1 due to a bad roll or my fifth level Knight of Solamnia being turned into goo by a Black Dragon in the first round?
Memorable games don't have much to do with rulesets, although a good ruleset can assist in having them. For instance, I remember very well the first time I had a level 1 character explode from getting hit for 50 hp damage (orc's greataxe crit in 3E). 1d12 + strength and other bonuses x3 is nothing to sneeze at when your hp caps out at around 14 for a fighter or 16 for a barbarian.