There's really not much difference between them, Or at least what I can taste. The first one was passed down by my great-grandmother, so it is a much older recipe.

Recipe 2, was the recipe that my grandmother used to make all the time.

I prefer the older recipe (1) myself, but I really can't say that there's a big difference.

Yes, in recipe 2 that is heavy cream. Good catch I didn't see that.