This isn't a great place to start for your first volume. It mostly just develops story, but the story is important. Start somewhere else though. Get DREAMSONG if you can't fight a good seller for BLOOD OF A THOUSAND.
Those who already own the previous volumes of BOTI could skip this book and the next possibly. It develops Rin some, but I skipped it for a while and was fine.
In "Rin's Bane," the young swordswoman, smarting from an argument with Manji over her fighting skills heads off into the woods to wash her hair. There she finds herself face to face with Kagehisa Anotsu, the leader of the Itto-Ryu swordsmen. Anotsu brushes aside her skills, and she is forced to face some very unpleasant truths about her beliefs. The lessons of this encounter haunt Rin in the next story, "On Silent Wings." Manji and Rin are at a local fair when the immortal swordsman suddenly finds that a local mask maker is another Itto-Ryu. In a parallel encounter, Rin risks her own life to prevent a haughty samurai from killing a young child. Manji barely avoids a public battle, and Rin is shocked to recognize the artist as the killer who defiled her mother.
As events proceed inexorably towards the second volume's part of the story, we sense the internal tensions in Rin and her swordsman as they confront the possible outcomes of their actions. Hiroaki Samura's tale again touches on complex moral issues rather than simply dishing out a violent samurai melodrama. The grim horror that counterpoints the lighter exchanges between Samura's main encounters provides the basis for much thought and consideration. One of the surprises in this series has been the quality of the translation, which manages to carry through the whole range of the dialog. Yet Japanese is preserved where it is part if the detailed and carefully composed artwork. This extremely high level of artistic integrity grows on the reader. "Blade of the Immortal" is much more a genuine graphic novel than it is a simple manga.