It resides somewhere between the two, as far as I can tell. I found this thread with the search function, and this is what I've found in the Mala JB so far...
Can provide a 'Collect All' type function (it will list EVERY file in the root folder, and any child folders, not great for albums), OR you can use the explorer type system, where it will list the folders, and you can then enter the folder from there. This is the best system for albums.
It supports cover art (I have an image with each album simply called cover.jpg in the folder).
It read IDV3 tags.
Can list the following information on each playing track (or currently selected, if no track is playing): title, artist, album, comment, genre and year.
It will also list the total time for the currently playing track, and the time remaining for the track.
It will tell you the status of the JB (ie, playing, stopped, etc)
It supports a waitlist. Not sure how to add tracks one by one yet (just started playing with it), but you can add whole albums, etc. Only thing thats pi##ing me off is, I can;t find a way to display the play list. Would have been good if the INFO button pulled up the playlist. Anyone know otherwise?!
Things that would make it perfect for me:
Display PLAYLIST function.
Configurable options for the track list (gamelist), eg track title only (at the moment it's got the artist as well)
Add single songs to the playlist (tried using the ADD GAMES button, that doesn't work)
Thats about it. Works pretty well, when you've sussed how to set it up for what you want. I use full albums, with scanned covers, and it works nicely.
EDIT: Pressing 2 to gain access to the main menu, then going SOUND>PLAYLIST will get you there. Now, all I need is a hotkey that ONLY allows you acces to this (can't trust my friends not to muck around). It would be cool to be able to delete single tracks from the playlist as well.