I actually have my Monsters! Monsters! 2nd Edition (4th Printing) open right next to my Monsters! Monsters! reprint edition.
Some quick things. Apparently the 1st Edition had a full color cover by Liz Danforth. 2nd Edition has a mostly black & white cover with red highlights.
The reprint is stapled, the 2nd Edition has the spiral binding that is either loved or hated it seems.
1st edition has some footnotes that are missing from 2nd Edition. Apparently there were some text "errors" inserted by the 1st Edition's Editor, that were changed / corrected in the 2nd Edition. Steve Jackson wasn't perfect back then it seems ;)
The 1st Edition Reprint has been reset professionally using modern techniques (computers) according to my untrained eyes. It's not a photocopy of the original but a remastered copy. Oh, and the Reprint also includes an 8 page GM adventure inserted in the middle... can't complain with freebies ;)
The rules appear to mirror T&T fairly closely, but I'd probably need to see them next to the 4e and or 5e rules to make sure. It looks like stat increase for leveling is boosted, I'll look at it closer to be sure, probably over the weekend.
It is nice to see there is a Monster Glossary with a sentence or two detailing each of the Monster Kindreds, something sorely lacking in T&T 7.5 e. Even at that it still takes 5 pages of the 40 page book (plus an 8 page insert of a town).
Passion, Pursuit & Evolution - Mpff. Heh, heh. My particular flavour of insanity, as OrwellianHaggis said a couple days ago. Following two different conversations going on this mont...
1 hour ago