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I am learning the Official version. I own the book.
I am by no way comparing the concert paraphrase to Chopin or Liszt. In truth, there is very little that can compare with them. Chopin in particular. The level of artistic and emotional depth that Chopin achieved with his compositions are unmatched, in my opinion. The Nocturnes, Preludes, Etudes, and Waltzes in particular. As you said. The concert paraphrase seems very Rachmaninoff-esque to me. It is, of course, not as difficult as Rachmaninoff, but it was definately influenced by his style. I guess it is still a matter of personal opinion. I know several people who abhor the music of W. Mozart. I love Mozart's music. I am a big fan of Robert Schumann. Many people can't stand the music of Schumann.

I have not heard GermanSeabass' version, so I cannot pass judgement on it. I can say that with the second piano collections I would like to see a return to the style of the Final Fantasy Piano Collection. FF8 in particular was amazing! They are difficult not because of the actual notes to be played, but because of the emotional and artistic competence required by them.