It doesn't have the very latest patch but it does have 1.74, I think. That patch is totally playable; very few differences.
BTW: Even patches as far back as 1.5x work OK bug-wise. The later ones mainly are about the alternative balance and combat. (which I don't use anymore)
That's one of my questions is when I start a NEW G3-game it already has the ("alternative-Balance") checked so what in part or whole do that mean and should I w/ a not so great computer keep it checked? Thanks ever so much in advance & happy game to you!
The Alternative Balance is selected by default but you can uncheck it and restart easily. It shouldn't affect performance at all if that's your main concern but does have some important gameplay changes. The manual has a complete description but the main points are item price adjustments, revised skill requirements, and major XP changes like making stones give 3 instead of 5 points and making points more expensive above 250. All this makes the game more like Gothic2, harder in general and impossible to get highest level in multiple skill trees.