blind3rdeye: I'd go with HoMM 2 first, mostly because I reckon it's got the most interesting single-player campaign.
That's an interesting comment as I always automatically assumed everyone agreed HoMM 3 had the best campaigns.
I only ever played HoMM 2, which I got back to recently and just today I finished the Roland campaign (for the first time ever! didn't go far as a teenager) and holy shit that last scenario - it took me way over 20 hours to finish!! (obviously several sittings) The penultimate mission was the 2nd longest at 9 hours and third longest was that Sorceress' Guild scenario at 7 hours. Besides those, the average mission took 4-5 hours.
Just... damn!
And to be clear: I never thought it was extremely hard, at most both the Sorceress' Guild mission and the finale I'd rate as definitely above average difficulty and probably frankly hard (had to reload a save several times throughout), but the main thing is that the nature of the game makes everything so slow, definitely not my preferred type of pacing.
And well you know, the narrative isn't really anything to write home about (main plot is average, world-building is good, so overall the narrative experience - combination of implicit and explicit narrative - is just about above average, 6/10).
I figured from the reviews and such that HoMM 3 would be an improvement across the board.
I am sort of hesitant to start the HoMM 2: Price of Loyalty expansion campaigns now as I remember reading somewhere that it gets tougher than the Succession Wars campaigns, and I don't think I like the game enough to spend, on average, something close to the equivalent of a day's work on each mission.