Seeing the CA version again after such a long time, there are a few things that make it so much better than World.
1. The CA visuals seem much wider. In CA, you're looking at a very wide view of landscapes. I think this is why any distortion is not as noticeable as it is on World, where you're often looking at a view that's not as wide - like a couple of animals, or one building.
2. In CA, the scenes are more dense with activity. There's more going on in the scenes and there's not necessarily one obvious focal point. In CA, you can look around the screen and see a bunch of different stuff. It's not focused on one thing in the middle. In World, it's often focused on only one thing right in the middle of the screen: look at this polar bear, look at this elephant, look at this Taj Mahal.
3. There are people in CA version. Seeing people and hearing chatter brings a real liveliness to CA that is missing from World (this might also contribute to the feeling that World has a more lifeless CGI feel). And the little details like the skier wiping out are great.
4. Along the lines of #2 above, there are a lot more "surprises" in CA that pull your attention. The hang glider and the jets both come into the scene later, for example, and shift your focus from the wide to the more specific (and to one side of the screen). There's nothing like that in World really, except the scene transitions where something sprays the screen - but again, that's something dead center of the screen so your focus never really leaves where you were looking anyway.
I'm a fan of CA over World, but was really interested to see if I actually felt that way after riding CA again, or if it was just nostalgia. Now, after riding CA again, it just seems like so much more thought was put into how the individual scenes were shot and composed to be lively and pull your attention around the screen. As opposed to World, where it definitely seems more static and focused just on one thing in the middle of the screen.