There is a fan patch for Gothic 1 that should solve some bugs. It is not nearly as mandatory (or big) as the one for Gothic.
http://www.worldofgothic.com/dl/?go=dlfile&fileid=157



I don't at all mind the graphics or gameplay in Might & Magic 3, but I do mind the sound. PC sound from that era was really hit or miss, and this I fear is a miss.