Honestly, I actually kinda prefer the live one. I've got that on right now, in fact -- Dead Set. Of course, that was the first one I heard. When I first heard the studio version after listening to the live one so much, my first thought was, Sweet Jesus, that's fast!
When I first put on my new Dead Set record (Yes, I listen to vinyl), it was a soft, slow, and pensive tune, and I was kind of in a soft, slow, and pensive mood, so it fit well. Of course, I'm not sure the speed has anything to do with my preference of it. I've always liked live versions better, like a true Deadhead.
When I play Friend, I kind of put the speed in between the studio version and the live version -- that sounds kinda nice. I'm playing that version on stage next month, and I might post a video of it o here.
But don't think of me as much of an authority on the Dead. I'm just putting my thoughts out there.
"Who needs drugs when you have a Grateful Dead tape and a lava lamp?"