I've played through all of the Half Life series. I remember spending ages trying to get Half Life 1 working with my brand new Voodoo card when it was first released. For some reason the drivers just would not play well with it.
It may be worth going for the Source version to eliminate any possible compatibility issues. There is a mod that has been in development for far too long called Black Mesa that will be a complete graphical overhaul, but the team is running on a 'when it's done' schedule with no release date in sight.