Can't talk for sewerhorse, but I think the HN design is quite good. Following is my opinion I'm by no means a designer.
Right now there is no distraction anywhere. It's straight to the point: Here are your headlines. Read first post title, if you're interested read/open, else proceed to next headline.
The meta info (points, comments,...) in lighter grey colour serves as element to visually separate the individual posts making them easier to parse.
Your design I find busier. Name of the poster and amount of comments are unimportant while parsing headlines (for me?) and thus are in the way. The light colour on #other is barely noticeable on my uncalibrated TN panel TFT and doesn't help at all.
For individual post/how comments are displayed I'd say the same thing. Username/points are way to prominent vs. the actual comment itself (and the up/down vote arrows are still on the same spot :D instead of downvote to the right of the meta information)
Aside from that, your design only has different colours with a fugly orange "more" button at the bottom.
Neither your design nor the current would be more or less 'perfect' when I'd first see it but in hindsight I prefer the current one; I am better at parsing it than yours for the reasons stated above.