It’s been years since I have seen both versions, and I am betting that most will prefer the original. I certainly prefer the ending of the original, which follows the great plot twist in the novel (one of the greatest ever), and which was inexplicably changed in the 1981 version. BTW I saw the 81 version before I had read the novel or seen the 46 version. So I am watching about 10 minutes of each, alternating. The opening scenes, hands down, go to the 46 version, especially in the opening shots of the femme fatale Cora. In the 46 version, we get this beautiful shot of Lana Turner all in white, literally toe to head, in the 81 version a far away shot of Jessica Lange in the kitchen.
One thing I have noticed abouit the differences in movies made in the 40s /50s and later, the earlier movies get right to the point right away, in the 46 version, Frank, after about a one minute conversation with Cora, is kissing her. This happens in the first 10 minutes. In the 81 version it takes a while before that happens, and in that aspect,my preference is for the 81 version, there is more character development.
When it comes to the sex scenes, the 81 version much more true to the novel, in 46 they just could not film anything explicit, certainly not the almost savage attraction between Frank and Cora.
So that is the first 20 minutes and that is all I can watch tonight, have to go to sleep. And of course the 81 version is half an hour longer than the 46 version. In the 46 version, by now Frank and Cora have gone away together, in 86 we have a scene of Cora and her husband and another scene of Frank and Cora kissing, after which she goes back up the stairs to her husband, then looking down at Frank meaningfully. More character development or just drawing out the inevitable a little too long? Right now I don’t even know which version I prefer for that scene