>vanilla MW
No, I recommend Rebirth mod. It's a polished Vanilla, the vanilla game is OK but rough. Optionally, wait for OpenMW to get a little more polished though I hear it's technically functional.
Yes try it. It's unique and certain parts, EG the Magic system which also meshed well with the tabletop RPG combat, show what potential Bethesda gutted like retards.
BUT
Things you should know:
0) The game was ugly even back in the day. Pretend it's 1999.
1) Open settings and turn down the difficulty at the start unless you know how to min-max your starting chargen. The difficulty slider reduces enemy stats so you can hit shit even with shitty stats yourself. Around ~40 skill level you're more or less competent at a thing.
2) Combat is tabletop RPG. Roll a d20 above 18 to hit oh no you missed. Not action-RPG. TES action-combat has always sucked, but Morrowind did what it did well. Read into how the combat mechanics actually work on the wiki. There's a fucking rainbow of options with the game mechanics meshing with the other rainbow of spells.
3) Morrowind had more travel options than any other TES game combined. You shouldn't have to spend more than five minutes on foot anywhere. Boats, Striders, Teleport services, Scrolls, Enchanted items, AND your own Mysticism and Alteration spells. Use them.
3.5) Pick at least one school of magic to use, if you're not playing a mage they're still all useful, but Mysticism has teleports and Alteration has fast-travel abuse potential which are great no matter what you play.
5) Morrowind had more factions to join than all other TES games combined, and faction-rep which can work against you. You can't be in all of them in one playthrough. Consult the wiki.
6) READ NIGGER, READ. It's a fucking visual novel.
See this guy?
A retard. Don't be this guy. Read how the game mechanics work and don't be that guy who sits down for a D&D session and complains he can't just shoot someone.