Get it both. I have both original LBA1 in European & US release, and LBA 2 on CD.
LBA1 was very difficult to get it working especially before doxbox was out. And even with it you have to go through configuration & CD ISO mount. I've tried & have all the patches for LBA1; it can be a lot of work.
LBA2 can be played easily by coping the CD content onto HDD. I've had some minor issues before.
GOG versions is click & install, then play. Minimal fuss.
theloz: Just started playing through LBA1 again. It's pretty brutal in terms of difficulty... I've got as far as the second island and suffered many a cheap death already, but it's worth it. Such a phenomenal game. You'll appreciate the sequel so much more if you've finished the first one.
Yeah, it can be hard, especially with wall hit. Died so many times bumping into wall then enemies taking advantage of that.
For the first timer, I recommend beating the game original style to get full frustrating experience first. Then you have earned the "right" to use the LBAwin or other no wall hitting mod.