To be honest, comparing the 3 different versions I’d say the Arkenstone edit probably works the best. I’d guess it’s probably the shot of Bilbo grabbing the ledge that makes it seem a little less obvious of an edit than the other two.
Still, I also have no problem with the way the scene plays out in the current version either, although I guess Bilbo coming closer to plummeting off the ledge provides more excitement and we do get more interaction between Bilbo and Thorin, which isn’t a bad thing.