YES! Still Life is absolutely stunning. It was the first Fates Warning album I ever picked up. To be honest, when I finally bought the studio album (though I had heard it many times before), I realized that I slightly preferred the performance on Still Life. It's slightly more dramatic and bombastic, and Ray adds some fabulous vocalizations along the way that I always miss when I hear the studio version. Unfortunately, the crowd is recorded quite loud in parts, and it can take away from the serene wonder of the piece.
But fuck, even if you debate the quality of live APSOG, you still get a selection of, arguably, FWs best Alder-era works, including the stunning "Monument" and "Eleventh Hour"... progrock masterpieces that shouldn't be missed.
So yeah, Still Life is, all around, an EXCELLENT place to start with Alder-era Fates Warning.