Thanks folks for the links.  My confusion about the different versions is much better.
It would seem that those 9 16mm prints would be very interesting to compare.  I am going to wait till all the dust settles on these new releases before I am going to decide if I want to go BD on this.  I have seen the film so many times now that I am not even sure I will ever even want to watch it again for a long time.
The funny thing is that my biggest enjoyment I ever got from the Chaney Phantom may have been reading Ackerman's remembrances of the film in early FMs before I was even able to see the film itself.