It's a common misconception - Bloodlines is NOT a sequel to Redemption. They are completely different games that are both using the same licence.
As for stability - from what I read the GOG version is patched (as always :)). I replayed my disc version last year and didn't experience a single problem (Win XP), so it's safe to assume it's rather bug free (then again - it may be just my luck :P).
The only (unavoidable) problem is vert- scaling and HUD stretch in wide-screen resolutions.

I'm sorry about the misconception!
Ok, then I'll buy it when I'm through Gabriel Knight. ;-) Thanks!

The only real problem I've encountered so far is the inability to overwrite save games, even though the game asks for confirmation.
Aside from that, it's still a fun game with a decent story to boot. Reminds me of Neverwinter Nights in some respects.

There are several solutions mentioned here.
Aside from the savegame problem everything works just fine.