I don't believe that's the revised (or, rather, corrected, returning to Peake's original intent) version, as (iirc) that wasn't released until the 1980s (I have both versions). In either case, it's a distinctly different sort of book from the previous two -- but these weren't intended as the only books about Titus. He originally envisioned more, as I understand it, and it was only his illness and death which prevented him from developing that. Even with its flaws, Titus Alone is often a fascinating book, and I'd put Muzzlehatch right up there with some of Peake's greatest characters....
One thing about the style in the first two books: Gormenghast itself is such a massive place, it is nearly a planet of its own; it is also rooted (one might well say petrified) in tradition, and the sheer weight of the place distorts and mangles the characters -- something the style drives home magnificently, as reading this book, one feels Gormenghast as something almost as solid and substantial as it is to the characters themselves.
For those used to fast-paced stories with plenty of action, these books are not likely to please. But for anyone who savors prose at its best, a magnificent and quirky imagination, and sheer brilliance of vision, these are definitely a must!