That's interesting. I'm not a huge fan of Favorite Things, just because it was played to death over the course of his catalog.
BUT, the version I really, REALLY like is the one from New Thing At Newport. It's the sound of four monstrously creative forces in completely uncontrolled, yet perfectly contained, chaos. The sound of a group in meltdown mode from having flown too close to the sun, and living to tell the tale.
I'll have to check out the Newport '63 version again due to your recommendation, as it seems like you and I have a similar ear for Trane.