It is very mod-friendly. However, UniWS does not work on the new EXE's provided. If you want to play it in widescreen, you will need a cracked EXE. The bright side about that is that the Windows 7 stability fixes do not seem to be related to the EXE's, as both games are just as stable with cracked EXE's bearing previous version numbers. The only other real difference between the new bundle versions and previous versions is that they may offer a different installation path than the others (for example, the installation directory that KotOR offers is C:\Program Files (x86)\LucasArts\Star Wars Knights of the Old Republic, as opposed to the usual SWKotOR folder; however, this is negligible and no issues will arise out of what you choose to name the directory). Just note that if there are any glitches, they are probably vanilla or stem from mod conflicts. They did not tweak any other aspects of these games other than OS stability and newer EXE's--otherwise, they have all the same advantages and drawbacks as the previous versions (i.e. TSL being buggy as all hell without TSLRCM or other mass bugfix mods).
The long and short of it is: yes, it is. Buy and mod away.