How does censorship in the English release affect the Dragon Ball Z manga storyline? Dragon Ball Wiki stated that compared to the original Japanese manga, the Viz English release of Dragon Ball Z is censored.

English distribution
[...] The &quot;Dragon Ball Z&quot; manga remains censored, although many volumes (prior to volume 17) are technically uncensored since they did not contain any objectionable material.

Mr. Popo's lips and other dark-skinned characters were edited because of complaints made by Carole Boston Weatherford.
Middle fingers were edited into fists.

In 2006, Viz began releasing a second, A-rated (All Ages) edition of the series sans some nudity and profanity.

The name Mr. Satan was edited into &quot;Hercule&quot; (the same as Funimation's edited anime dub).
Firearms were edited into &quot;laser blasters&quot;, though a pistol-armed robber was able to shoot a character without being censored.
Alcohol, drugs and sexual innuendo were edited.

VIZBIG editions
[...] These releases are also edited for content to make the series more family-oriented.

Does the manga alter any dialog or story? So, how bad is that in the overall experience? If it's so bad, what are my other options to read the manga?
I think you're asking, what was cut in the English anime shows from the original story. I don't know everything, but I do know what I've seen.

Dragonball-had multiple parts cut which had Bulma either getting her top flashed(krillin vs invisible man), I believe a shower scene as well, her privates smacked(early on goku fun), and some language(not a string of curses, just an occasional bad word). Some of the dialog was altered to make it less perverted or more American/kid friendly

Dragonballz had more language cut. Like dragonball, certain phrases are altered to make it more kid friendly.

Editing-it won't ruin anything, tho some parts would be very cut thru. Watch the Japanese version, with English subtitles. Most dvds let you watch the English version with subtitles for the Japanese version, to see what's actually said.