Guld hit the nail on the head. If theres anyone to take training advice from, it's him. You should read some of his posts, he reallys gives 110% to training.
It is true that Mike had his fair share of problems. I hate to see people bash him, because he really did make a difference in bodybuilding. He was a great man, and was always willing to help others. He could come off as a bit off the wall at times, but that was just how he was.
As Guld mentioned, the best form of HD, is the original. In the late 80s, and 90s, Mike went too far. Working each body part 1-2 times a month! I think where Mike failed, Dorian, and even DC succeeded. With such low volume, you could work each body part at the min once every 6-7 days, and even 2-3x a week (ala DC).
I loved DC ideas. When I followed his program, I made great gains, quickly. But sadly, I couldn't tolerate the frequency. I'm the type of person who can get sick just being in the same room with someone who has a mild cold.
I started reading more about Mike, and came across Iron Addict, and our very own Realgains. IA and DC share training sections on a few boards. I decided I would try and experiment on what I could, and could not tolerate. I found that using a lot of DC, IA, Mikes and Realgains idea's, I was able to come up with something that fit me perfectly. I suggest that perhaps you do the same. Theres lots of GREAT programs out there. DC, HST, Realgains post on the women's board, the original Heavy Duty book (you can get that one at Mikementzer.com), etc. Look them over, and see if you like them.
Also, don't be scared of the one set per body part, or per exercise. If you want high frequency, I would follow something like DC or HST to a t, but if you can't handle that, and DC says there are many that can't, try working everything once every 6-7 days. If you do that, you can certainly do a bit more volume. In Mike's Olympia days, he would do 4-6 sets for large parts (remember this was at a time when others were doing 20-25 sets per part, even biceps!).
Good luck, and I hope I was of some help.