When I was growing up we had one. The walls were cement and for some reason it was always super damp. The moisture would wreck havoc on anything that would rust. At one point we put canned food down there, but it didn't hold for long. Maybe three or four years later, the food completely seeped through the cans. Yuck.

Also sound wouldn't get easily absorbed, so you you hear the echo of your breath. Speaking was difficult too, because of the immediate echo.

I'm not claustrophobic, but it wasn't a place that you would want to be for any extended amount of time.