I was, in fact, going to do a similar post like this just last night. After spending quite a few hours pouring over readme's and forum posts (I, myself, have not played through the Killap's Restoration Project nor mib88's Megamod, so whatever I say is possibly negligible,) I have come to the conclusion that for a "new" play through of Fallout 2, Megamod is your best bet.
Since this post is similar to what I wanted to post, I shall hijack it temporarily.
Hello, I am SleeperJack. I am a longtime Fallout fan (recently dusted off my Fallout discs and finished both of them, restarting Fallout 2 twice after running into game-breaking bugs and entering the fanciful world of F2 modding; retrieving Bear Dude's patch in the process,) and I feel that with all the new content being created (and/or repaired from the original) it would be a shame to pass it up.
So here is my question: As I understand it, some but not the most recent and sizable of Killap's bug fixes are integrated into mib88's Megamod, can I expect for future versions of the Megamod to contain Killap's recent fixes? I am a patient person, so I can wait if that is so. For I wish to have the "best of both worlds" so to speak, new content with as little bugs as possible to distract me from the gameplay.
(Perhaps I can expect cooperation between the two modders? Being respectable modders in their own rights, it would be extremely pleasing to see the Restoration Project integrated into the Megamod, though it wouldn't surprise me in the least if it was improbable and/or impossible to execute.)
If this question has been covered already, I apologize. I sincerely spent a sizable amount of time sifting through this forum.