They can all be made to play 100%.
The problem you will run into with the 1, is when/if the cushions need replacement, the cushions available today don't fit on the wood rails properly. To do it 100% right, you have to have a mechanic shave some wood off of the rails to make the modern cushions fit right. That's a pretty big job, that only a handful of guys in the country offer as a service.
The 3 also may have the same issue. Somewhere in the middle of the production years of the 3 is when that old style cushion went away, and the wooden rails were changed.
The 4 100% you won't have this issue. It accepts the new cushions with no problem whatsoever.
The 4 also has two other main differences with the 1 and 3. The plastic pockets are flush with the metal pocket castings. On the 1, 2, and 3, the plastic sticks up about 1/4". The flat design makes bridging better when the CB is near the pocket.
The second main difference is the score counters on the end rail. They were deleted on the 4. If you used them a lot, this may be a disadvantage. If you never used them, an advantage. They were also known to scratch a cue or two.
Does the light come with the 4?
I have a 4 at home, and I love it. But I'd be happy on any GC, as long as the cloth and the cushions were in good shape.
Disclaimer, I'm not a table mechanic, just a pool nutjob