Hm! Definitely not bad, but not great either. To me, both versions are a little too simplistic. If I had to pick, I'd choose the first version as it sounds far more witch-like, since you said it's a witch's lair type of dungeon (which is cool by the way!).
Every time it intensifies though, it just sounds like there are too many instruments at once (they all seem to be at the same volume). I'm certainly not a music expert, so I couldn't tell you what to would be best to remove, or even add so unless someone else is an expert and can tell you what would be best, you'd just have to experiment. Personally though, I think the first version could do without that first part and skip right to 0:04. The melody of the harpsichord could definitely use more notes, too. That aside though, I do love the choice of instruments and the mood of it.