Yes, you can start reading at Part III. You'll only miss out on learning why the giant ranger protagonist is romancing Xzar, why Edwin and Imoen keep /snuggling/, why Xan and Branwen are so adorable, and who the hell told Viconia and Ajantis they were in charge of keeping each other from party infighting. Lots of dark violence and cute bonding moments, ahoy!
Set in Rasheman, forty years before Baldur's Gate. The story of a surly Wychlaran necromancer, Sheilaktar; and eventually her pupil, Homen Odesseiron. Filled with dark and witchy magic.
In which Shar-Teel gets laid low by a Moonblade-wielding enchanter, Viconia ends up babysitting a Helmite, and Imoen is dead-set on befriending an extremely bad-tempered Red Wizard. At least Xan and Branwen are being adorable with each other. Oh, and then there's the issue of Kivan: the world's least reasonable and most competent drow-hater. Aegis always hires the best of the best.