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Ziggy, that is very very well said!
I do video editing as a profession and in my experience, the delivery deadline is the only thing that keeps me from continuing to work on a project. It never feels done. Even sometimes after the deadline is over and the project delivered, I will continue to make tweaks for myself or for a demo reel.
And while I like having these “definitive versions” for myself, I also keep the version as delivered as a record of where I was and what I was able to accomplish in the allotted time. Deadlines are good sometimes, and I think often the work you put in the final weeks gets you 99% there. It’s that last 1% you can spend years on!
Whether I make a V2 or an Alt version will depend on how I feel when I open it back up with fresh eyes! In either case, I still have all of the versions, because as you say, storage is cheap!