I tried to a little bit. But it gets harder as I got older because of health and scheduling issues.
It can be really fun having an area where cooperating loose confederations, a.k.a. "allies of convenience" (you were present that day at the game store when I ran my table), end up appreciating the friendly competition versus subsequent exploring parties. Naturally larger 'dungeon spaces' works better for this, so like a city district, dungeon, or hedge maze hex with lots of content. Leaving tidbits of party history adds to future mysteries for other parties, and well, players being players, there's a bit of having fun with following parties (arranging corpses in bizarre formations, weird fake sigils, other silliness). That said, you as GM should take notes for consistency.
I miss it, but I could imagine how cool and novel it must have been in the 1970s. Now with MMOs and virtual spaces it seems old hat, and partially ruined by reluctance about anti-social behavior. But if you have a trustworthy GM it is like having a trustworthy server with levels of play personalization beyond typical video game scope. Something about the human touch is still hard to beat.