Sure, only if you have some interest in Guild Wars 1. Personally I bought the original Guild Wars to experience it & get myself ready for Guild Wars 2. Its like there is a WoW 2 coming out and playing it without experiencing the original World of Warcraft.
I think gw1 would be well worth your time, but not for getting the hom rewards. ITS A AWESOME PVP GAME. I enjoy it more then any other game ive played. But i dont know if you will have the time to do all 4 expasions as well as get at least 30 points for the hall of monuments before gw2 goes live. I think that anyone playing gw2 should try gw1 to see wher the game came from. The may never be another game like gw1 wher u can have 2 classes and pick a bar of 1000's of skills and make the craziest 8 man team builds that should never work but some how do...( dont mess with my dev hammer monk, rofl)