From looking at the GOG store it doesn't seem to be bundled with any patch, which is actually unusual for GOG. If you're interested I heartily recommend Restoration Project, Updated or RPU for short. It's a combined unofficial patch/cut content restoration that's very vanilla friendly and tidies up a lot of stuff left unfixed in the last official patch.
Yeah those Wanamingos are scary in the early game, definitely a place to come back to later. Armour can be tough to get as it doesn't typically drop as random loot. There are two leather armours for sale in Klamath I think if you've gotten a bit of money now.
I don't know that it will ever be the game people wanted it to be, but at this point it's a really good and fun game with a great story and characters and a visually stunning beautifully realised world (in terms of aesthetics and art direction at least).
It's most definitely worth experiencing in my opinion, and doubly so for half off.