I have to say I saw the 1960 version starring Raizô Ichikawa first.
Lead actor does really do a lot of difference. I feel Chiezô Kataoka seems to old for what I feel Tsukue Ryunosuke should be. I may be wrong there of course :) But I think the 1960 version of Tsukue Ryunosuke seems more cold and scary. and the scenes were just set up in a much better way saying a lot more.
Otherwise I guess it is okay but I would go directly for the 1960 version if I was going to choose. i feel both mood and the lead does a big difference for me giving the advantage to the later version.