Why is Bare Knuckle 3 preferable?
Less censorship. The stereotypical homosexual enemy Ash isn't cut, the female enemies weren't gender swapped to men. Ash is also a playable character.
More even difficulty. Normal in SoR3 is the same as hard on BK3.
Axel's Rambo like introduction isn't cut.
Bosses have at most 2 life bars, unlike SoR3 where they can have 5 or 6
The BullDozer stage has more walls, but the dozer is hit back with 1 hit instead of multiple ones. Makes the section less of a chore.
Better train warning in stage 4
The story makes more sense.
Thats all I gathered from my 2 play throughs of BK3-English
Speaking of translations........I was reading up on the Lunar games, trying to find a fan translated Japanese edition; Working Designs really screwed up those localizations. I thought the PSX re-releases were better but they are still wonky