I've got a very old seed phrase from the very first version, will it work if I recover the wallet on the latest version?

I would recover that old seed on Sparrow and get any Sats out of it. Bisq v1 uses Bitcoin Core directly and as such with all the chain bloat of late will have issues scanning back a long way through the chain. I would create a new Wallet, if using v1 again. More important than the wallet, you should make sure to re-use/recover your payment accounts, that way you will have your account age visible, which is an important anti-spam metric Bisq users look to when selecting offers to trade against.

Awesome!