The first time I saw the Trilogy ever was the chronological version. I much prefer watching Part II intercut, with the two parallel storylines of a father on the rise and a son on the fall.
First couple of viewings I much prefer the Vito sequences. But there's something about the whole Cuban sequence; betrayal, family, and inevitable hurt are just three themes of several in that sequence that pretty much sum the movie up, and the character of Michael. Excellent.
Mick