Just my $.02 worth as always...
To me a "portfolio" is something you use to sell your work to potential clients...that's it's purpose. This is what makes a portfolio different from a "scrap book". So with that said, my question would be, exactly what is it that you are trying to sell to your clients? If you are trying to sell your abilities as a Photoshop artist and what you can do with an image "beyond the image itself" and/or your own artistic vision, then the second shot is more suitable. If you're simply trying to sell yourself as a creative photographer then I'd stick with the first image instead. Having a better idea of what you are trying to pitch to a potential client is the real question here. In my mind at least, selling yourself as a "fine art photographer" is a very different thing than selling yourself as a "graphic artist". Not that there's anything wrong with doing both.
With my own work for example, I have one or two examples in my portfolio where I will include both the before and after shots so that I can present a potential client with options and then the work is done based on what the client wants. On the other hand I should also mention that technically speaking, since I do a number of styles of work, I also have a number of portfolios. I have one specifically for my wildlife work for people interested in that type of thing, I have another that is strictly "pet portraits" again specifically for people who are interested in "pictures of Rover" and I'm putting together a people portrait portfolio as well. Basically most people who are interested in normal "portraits" aren't really going to be interested in my wildlife work and if I'm talking to a nature center about doing an exhibition of my wildlife work, they're not generally going to be interested in my people shots. Neither of course would be interested in any of my advertising or product photography. To me it's kind of like streamlining a job resume for a specific job that you may be applying for. Think of the portfolio as part of your resume, so in regards to which picture should you use just ask yourself which job are you applying for?
Alrighty, not sure if that was really any help or not, but good luck!
Peace,
Jim
"It is horrifying that we have to fight our own government to save the environment. " - Ansel Adams
Walczak Photography - www.walczakphoto.izfree.com
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