I like Valis 3 the best in the series. The multiple characters reminded me of Castlevania 3. The water level is tough on Turbo, sure, but it's overall my favorite version. I'd much rather play the game with cool cinematic sequences and voice acting than with a bit more paralax and missing levels.
I also love the translation. Between the early 90s voice acting and a few awkward lines, it really can't be beaten. "You can't kill Ashura, he's a cynical guy" cracks me up everytime I get to the ice level.