What would you recommend for someone to start with regarding this particular book? (I haven't gone through the book yet.) Is there a technical reason why material was changed so drastically, or is it more along the lines of streamlining things for a university course? Are the things left out in the subsequent editions interesting but not useful or are they interesting and useful but not conducive to fitting into a one or two semester course sequence?
I don't think the first is 'better', but as examples of how it was more fun there's the compiler chapter and an OOP chapter with a small OO language organized around metaclasses instead of what I remember as a more tedious development of Java-style OO in a later edition. I'd still expect the latest edition has the most to learn from if you're picking just one.
This book has been waiting on me to go through it. It's on the list with finishing SICP and also PLAI.