Latch, IMO, if you want the most bang for your bundle-buck, don't let anyone rush you through the base game and the first expansion pack. Installing all three and the latest update is a good idea, though. Just play each 'chapter' until *you* decide you've learned enough.
Unlike any other game with expansion packs I've bought, DA and TA not only add things to GalCiv2, they verge on being new releases in their own right. DA adds both extreme environment techs and a unit-based espionage system, which change game feel substantially. TA tops that with the addition of unique tech trees for each built-in civ, and it provides a way to use your spy units to gather intel on a civ without actively doing them harm, as you must do in DA if you want to learn details about a rival or enemy.