I've just now finished both the Witcher and the Witcher 2 for the first time. As I recall, in the first game, you ran into the Wild Hunt and the King of the Wild Hunt several times. The Wild Hunt was presented as a bunch of mad, battle-hungry spirits who were an omen of death and war, and the King of the Wild Hunt seemed like some personification of death itself; at first saying stuff about Geralt cheating him by surviving the riot etc, and then later that Geralt is his greatest champion because of all the death and chaos that surrounds him (Outskirts massacre, Murky Waters attack, Vizima burning.)

But now that I've finished the Witcher 2, I know there was a sub-plot (not even a quest I believe, just notes, books and a few conversations with sorcerers), where it is made clear that the Wild Hunt is in fact a bunch of elves from another world, who go on some sort of a slave-hunt through half the world of the Witcher.

So how the hell does this make sense with how the King of the Wild Hunt was presented in TW1? If the King was just some elf leader from another world, why would he know or give a shit about Geralt, or consider him a champion of himself?

The elves seem to be able to send out spirit versions of themselves (or something, don't know how to word it) in addition to having physical bodies, and they care about Geralt because of Ciri. Who is mentioned once in the second game.

So yeah. Not retconned, just more closely tied to the books. I assume they'll elaborate in the third game, but you could probably get a better handle on it in the meantime by reading the books. I haven't, but you can search for the wild hunt on these forums and find a wealth of information about the subject.

The King of the While Hunt in The Witcher is also presented as liar, really. It's lying. And I suppose he cared about Geralt because Geralt got away and continues to be functional as opposed to being a babbling lunatic. Result being; he's a threat.

It's the truth that lies beneath the surface of these legends that really matters.

I haven't read all the books myself, but from what I've heard those Other World elves are racist conquerors just like the humans in Geralt's world. They can't physically travel to Geralt's world so they manifest themselves as spectres which enslave human souls.

I think that you are right to an extent, the motivations of the King of the Wild Hunt must have been changed to some degree between the games. That said, his behaviour in the first can be explained by the revelations in the second. The King seems to be intent on collecting those with Hen Ichaer, the Elder Blood - Alvin being one of those. Geralt did a pretty good job of attracting Alvin to him throughout the original game, as well the chaos that surrounded Geralt could have also highlighted other Sources and those with Elder Blood to the King.

What you find out in TW1 is only the most common theories and ideas. Since Geralt doesn't start regaining his memory until after he has defeated the King at the end of TW1, it makes sense that these loose, simple theories are all he's got. That and the lies, half-truths, and prophetic ramblings of the King, the times he meets him. The ambiguity of the Hunt in the first game feels very intentional to me, and once you start connecting it to what you find out in TW2 (both from memories returning, and more advanced theories being presented to you), you can make some sort of sense of it.

The King had his own agenda all throughout TW1, following Geralt around as he caused death and destruction around him. Why does he care? We never find out until TW2 - he wanted the Elder Blood. We don't know why, yet. Whenever he confronted Geralt, or Geralt confronted him, he's obviously not going to reveal his master plan to him. No, he will ramble on about prophecy and destiny and all sorts of nonsense (as far as we know), just to keep his mind occupied and keep him off track. Once Geralt starts recovering his memory, after having defeated the King at the end of TW1, he is able to start putting the pieces together himself; he knows a heck of a lot about the Hunt - truths that only come from having been in close encounter with it, and even joining its retinue. The Hunt doesn't care much for those who escape - or let go - at some point, due to the memory loss or insanity caused by it; but Geralt is different; his memory is starting to recover, and he is thus the greatest threat to the Hunt's plot, whatever it may be (some form of invasion sounds plausible, judging from the theories given in the game), they have probably ever faced.

This story arc is just getting started. And I think it was brilliantly constructed, from the beginning of TW1 to the end of TW2. I can't wait to see what will come of this!

I also wish to know whats the connection with the Wild Hunt, the poem found in Nilfgaardian camp in Pontor Valley and Nilfgaard itself.

-Edit-

Would be great, if future game content had either gameplay or flash backs of how Geralt escaped the Wild Hunt (from where he was captive and taken). :) *its a wish...

In the books the Wild Hund wanted Ciri because of her ability to travel freely between worlds. Actually, it is more complicated then that, but I don't want to summarize the books here. Basically, they wanted to regain that ability.
I guess that King of the Hunt, in the first game, for similar reason wanted Alvin/GM who also had such a ability, if somewhat weaker, and uncontrollable one.
My theory is, that they kidnaped Yennefer in order to somehow lure Ciri back into their hands, from whatever world she is living now. And they exchanged Yennefer for Geralt because his bond with Ciri was even stronger.

I agree! I've always considered vg stories to be fairly unappealing compared to other mediums, but this is the first time I've been excited for the plot of a game

Can't wait to see what happens with the Wild Hunt in the next game