Well, for me it's almost the other way around. Streetfighter when it came out on the SNES was supposed to be "arcade perfect" according to some magazines, but when I played it (at a friend's house) it seemed kind of wooly. The sprites weren't right, they were kind of stretched etc.
Now, if I'd seen it in context of other SNES games rather than the Arcade version, I might have thought different, but I can't help seeing SNES SFII as a watered down kid's version.
But the PCE version, I really like. Probably because it was one of the few games I had for my GT back in the day, and even with 2 buttons, it beats the stuffing out of most portable games at the time, and has infinite replay value. Nowadays I'd use my 6-button Nomad for portable SFII, but I still like the PCE version a lot more than the SNES. More blood too.