Freebird the studio version. Yeah, the live versions with the more extended jams sound better, especially when cruising on the road.
Here's the thing. Like most bands Skynyrd was flat broke when they went in on their first studio recording. Ronnie was notorious for long practicing and getting every note down pat so their performances were consistent and always top notch. He used the extended solo at the end of the live performances to give his voice a break because they did a bunch of shows with multiple sets.
So what you get here are lyrics and a coda at the end which had been practiced, refined and honed. This isn't a Duane Allman and Wilson Pickett or Mick Taylor and Bobby Keys just keep the recordings going and finding a pearl.
Tough to find a better combination of lyrics and musicianship off a debut album.