Today there is no point. Optimizing compilers have gotten very good, and while it is still possible for hand tuned assembly to beat compiled code, with compiled code you change a flag and your code is optimized better for some other CPU that the hand tuned code for a different but compatible CPU. Then change a flag again and your code runs on a completely unrelated CPU family.
It wasn't bad actually. We had macros to do 16 bit work with 8 bit registers, etc. so the code was much more high level than it sounds. We did have to be very careful with the stack (making sure it's balanced), but otherwise very similar to coding in C.
With modern architectures, I much prefer C and intrinsics and let the compiler deal with it (and nudge it when it gets it wrong).
(Original Spacewar was PDP-11 assembly. Original Colossal Cave appears to have been FORTRAN.)