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I am considering buying Independence war for one major faction, The old Buda5 mod which converts the game into a Babylon 5 themed Space Combat sim. Also, I-War appears to be a great game ^_^ Atleast according to your reviews.

So, would this old mod:

Work with the GoG Version of the game?
It should work - the GOG version isn't fundamentally different from the original release, apart from the compatibility fixes, and the intro movie playback.
I picked up a B5 based sim a couple years ago called: Babylon 5: I've Found Her (I think). You might look and see if that is still around. I remember it being pretty similar in feel to Iwar.