Let's say I have two similar 2n3904, hfe: 250, both biased near 4.3v but the bias resistors are different:
bias 1
r1: 100k (Vcc to base)
r2: 47k (base to gnd)
rc: 10k
re: 4.7k
bias 2
r1: 420k
r2: 33k
rc: 10k
re: 0k
Suppose the in caps are big enough to let all freqs through, the out caps are equal, and the emiter of the first transistor is bypassed with a big cap of nearly zero ESR.
The question is, when push hard, do both transistor distort or behave the same?
mac
What is the source impedance? Input impedance is 18K for the transistor, 12K-13K altogether.
If source is under 1K the nonlinearity is mostly gM.
If source is over 30K the nonlinearity is mostly hFE.
Many guitar-chain sources are in this zone where it is some of both.
I think the breadboard is your best friend.
I'd also point out that version 2 will drift ALL over the place with temperature or transistor change. If you are hand-picking parts and playing at home, that may not matter.