If you watch the whole series, it tells a real story. In UFC 1: The Beginning, Ken Shamrock fights Gracie. Ken Shamrock was viewed as a punk kid, and not much was known about him. The ref was an unskilled moron, and the commentators weren't very good, either.
In UFC 2, we see a vengeful Pat Smith send a few people to the hospital. The fights are fast, furious, and action-packed. This one is the fiercest UFC's to date, and I would recommend it to anyone who is seeking brutality on videotape. John McCarthy takes over for that moron from UFC 1.
In 3-4, we see the UFC change to allow more challenging alternates, closer matches, and last, but not least, the permanent induction of Big John McCarthy into the UFC. Ken Shamrock and Royce Gracie are looking for a rematch, but it never happens for one reason or another.
In UFC 5, Ken Shamrock's popularity is peaking, and we have really gotten to know him. Royce Gracie bows out of the competition in exchange for a rematch with Ken Shamrock, creating the first superfight in UFC history. Without the worry of having fought earlier opponents, Ken and Royce face off in the best of conditions. Also, on this one, you will see Dan Severn earn his title as "The Beast", and Guy Mezger enter the UFC for the first time in his first qualifying match.
All in all, this boxed set is great. You get some hard hits with an interesting true life story to boot. Most importantly, you will see what the UFC was like before censorship intervened and removed some of its early greatness.