I feel like the newer version is more disjointed. I'm kind of torn. While I like the direction it is going with multiple paths and more emphasis on player-choice, my favorite scenes, such as the fun with Bastet and the hypno-dick fake-out, seem to have been removed entirely.
Edit: I'm also sad to say I found the animation more distracting than anything. It was just a very simple and short loop. I'd rather just have still images and text.
Another Edit: Actually, I think I prefer the previous version in its entirety. It felt more cohesive and the new paths don't really add much. You either make the designated (Smart) choice, or lose. That is about it. If that is the extent of how the variation and player-choices will effect the story, I don't see much of a point, especially if it involves cutting up (and out) existing content in a way that tries to fit it into the newer narrative.