So as I understand TIM 3 it's TIM 2 but better - but there is no TIM 1 in all this pack correct ? Screenshots on product page suggests there is first part.

Yeah, naming and releases and ports oh my. Confusing for sure.

Includes:

Even More Incredible Machines - This includes all of TIM1 levels, but also new levels and new parts are included - 1993 (TIM1 1992)
(You can think of this like TIM1 plus DLC/expansion as we call them today?)

Incredible Machines 3.0 - Which is the Windows port of TIM2 - 1995 (TIM2 1994)
(Windows 95 32bit port, though there is a 16bit Windows 3/3.1 out there which may be why this is called TIM 3.0)

Return of Incredible Machines Contraptions - 2000

Incredible Machines Even More Contraptions - 2001
(Same gameplay as Return, same 50 tutorial levels, but 250 new levels)

oh man - I did miss that indeed when checking out all that games it came with the pack :)

Cheers