bonzer: My understanding is that the chronology of the story would be Reunion, Prelude, then Conflict. But the release order was Reunion, Conflict then Prelude?
As I mainly want to replicate my old 48k Spectrum Elite days, Prelude would be the best sandbox to play, being the latest release?
Your understanding is incorrect; the chronology of the story is the same as the order of publication.
In my opinion Albion Prelude is the best one to play. But some people like the story missions in Terran Conflict somewhat better. There is at least one mod someplace that allows you to play the Terran Conflict plots within Albion Prelude, I think, but I haven't tried it.
Put another way, the main advantages that AP has over TC are technical. Slightly fewer bugs, better boarding mechanics, better view range, all sorts of little things that add up to a better overall experience. Whereas the main advantages TC has over AP are in the plot/story missions. But personally I think the story missions in AP are adaquate.