I was wondering should i wait for the revised version and expansion or should i buy it now and get some games under my belt so that i will be ready for the expansion? Thanks

I really enjoyed the game, so IMO it may be worth your money to get the first edition. If you are a collector like me then yes, if not I would wait for the revised. The old edition is basically going to be obsolete.

Will game sellers give up their 1st ed and take 2nd ed in its place? I buy games from the Net from time to time and I don't want to get a hold of the 1st ed in favor of the 2nd ed.

You can distinguish the 1st edition from the 2nd from the box cover

I think it's better to wait for the 2nd ed. I don't see the web page indicates the expansion can combine with the deck of 1st ed (while it can with the 2nd ed)

I think they mentioned it somewhere that the BGaE will bill compatible with the first printing. Revised edition will just have art enhanced with some deeper colors, cards that are a bit more damage-proof and some rules clarification.