Nox I haven't read this novella yet, of course, but I'd bet that you're better off reading the other books first since Auri is such an unusual character and tangled up with Kvothe's story in a very delicate way. Auri requires the sort of slow introduction that is provided in Kingkiller.
Mighty I just finished this book. I have read both of his other books, and I would be very lost without having read at least his first book. It does not spoil his other books, but his other books do certainly introduce you to Auri from another perspective which provides a context for this story. This book is not really a stand-a-lone book. So read Name of the Wind before this.
Patrick Although it "can" be read as a standalone, I really wouldn't recommend it. It has no exposition of any kind, so you'll be asking yourself "who is that character?" and "where does this take place anyway?". I guess the story is a good one nevertheless, but I'd highly recommend at least reading "The Name of the Wind" before reading this book.
Donna This can be read independently of the other books IMO. The other books though should be read in order. If you are obsessive about finishing a series once you start it, I would recommend waiting until book 3 comes out before starting the series. I would also not base your idea of how the trilogy is written based on this book. It is in a very different style. What you can learn from this book is the remarkable skill this author has with words.