I really, really enjoy this story (having read the WN), but I definitely think it will be a superior read once the entire arc is finished and you can read it all at once.
On another note, I don't recall them seeding Valiere's true strengths quite so early?
Also early mention of fairies?
So far, I think the Manga is the worst version of the events portrayed so far. LN>>>WN>Manga. Also the bonus chapters of Faust's 'Good Ends' (Valiere/Valiele and Catalina being main wife in each) are usually nice hats on the volume. Non-canon, because it involves settling down immediately.
The Hannah stuff is slightly curtailed/changed, but her actions are somewhat there. Also a bit more heartbreaking, but yeah.
Just scanned the official epub for Fae/Fair to grab as much for volumes 1 and 2, no mention of Fairy/Faerie. That being said, I'm not sure a synonym for it isn't used. Magic, sure, but not fae.