I would recommend the 3-in-1 coming out this fall. I have the Xbox version, and got the PC for the expansions. I ended up getting a new computer in December, but it still isn't enough to handle the game requirements. If you look at it this way:
- If your computer isn't up to date with graphics, you'll need to buy a video card, the original Morrowind, Tribunal, and Bloodmoon. That will easily span into the $100 mark.
.or.
Wait about 4 months, go to the store and buy the new Morrowind (let's say $60)
About the only thing the PC version will have over the Xbox is the mods. Quite frankly, I've never bothered with them. The game being released in the fall will have all the latest patches; considering it is a console game, there should be a minimal amount of bugs, if any.