I disagree that the velvet GOTY edition is better. The statue is pretty meh, but it's still a statue. There's the artbook, the bonus CD which is virtually the same as the bonus CD from the velvet edition, the playing cards, the same map as the velvet collection, and I personally definitely like this box better than the velvet box.
What you're really getting from the velvet edition that you don't get from this edition are the case, the expansion DLC, and the little pirate pin [which looks like pilot wings pins they give kids on airplanes].
As a collector, I'd say get both.
Billy Mitchell is better than you.