The more concise original cut is my preference as well. The Director's Cut, while adding a few interesting subplots, tends to be more ponderous, while the theatrical cut moved at a brisk pace despite its length.
The Pioneer Special Edition laserdisc release of the theatrical cut is my go-to version of the film; it's a great box set as well, with a beautiful full-color book The Mozart Firmament and a 2 CD copy of the soundtrack album that's the best rendition I've heard.
If I have children one day, I would be able to show them the PG-rated original cut long before I'd want them to see the R-rated director's cut.