I have both the original and the Steve Hoffman pressings and actually listened to both versions yesterday, back to back. The Hoffman pressing has a more robust bass and perhaps a bit more seperation bewtween the musical elements. The original pressing has much more presence and punch in the upper-midrange. The original is a great, great sounding recording.
On balance I will take the original as I assume it consitutes the sound the band wanted. And it is a great sound. The Hoffman pressing is a fun variant but I miss the punch and presence of the original (I assume this is a function of the master-tape deterioration, and not any choice that Steve made).