TLC is in my opinion the best Fable game. If you want to go streamline and pay extra for DLC that was just taken out of the game, go for 2 or 3.
As most people on this forum will say, if you do pick up TLC, get the PC version of it, even if you don't like the game in the first place you can -as with all things on the computer- do whatever you want to make it better.
Best of all, your computer dosen't need to be a hi-tech 30GB Ram type computer. Not due to the game being older detail (Still amazing for the time it was made) but because it's just generally computer-friendly.
Also, it is on Xbox, but if you do get it, I don't think anyone would recommend it over computer, unless they're a entirely console playing, dosen't enjoy modding or just generally extending playability gamer.