Both of the incarnations of the show are pretty damn good. La Chiusa does a magnificant job of capturing the period and the mood of the story, and, as a previous poster mentioned, his score is more complex than Lippa's. Lippa's version, however, boasts a stellar cast. (Not that La Chiusa's cast isn't exceptional... but come ON. Brian d'Arcy James alone makes the Lippa cast recording worthwhile- let alone Idina Menzel, Taye Diggs, and Julia Murney thrown into the mix.) Also, the music is more in tune with contemporary Broadway. Lippa doesn't attempt to adapt his score to suit the atmosphere of the piece, as La Chiusa does.
Really, I think that both methods work. If you can afford both, get both. They are worth getting together if only for the fact that it is extremely interesting to compare two great composers' wildly different takes on the same subject matter.
"Goodness is rewarded. Hope is guaranteed. Laughter builds strong bones. Right will intercede. Things you've said I often find I need, indeed. I see the world through your eyes. What's black and white is colorized. The knowledge you most dearly prized I'm eager to employ. You said that life has infinite joys."