Which one is the better, more up-to-date version...and what is the difference between the two?!

It's the title of the game - "Granado Espada. Sword of the New World". There is no difference how to call it.

Or i'm wrong?

I've played Granado Espada at the russian server for 7 months, it's great, and it's neverending game)

 Granada Espada = The Korean (and original version) of the game

Sword Of The New World : Granada Espada = is simply the Euro/Amero  version of the game, 

I was a little bit right) 

That is a REALLY fun game to get in and play during downtime Tues, waiting on your game to come back up.  I haven't played it since it came out, anyone know how the health of the game is?

There are several different versions of the game Granado Espada.

The North American and European English version is called "Sword of the New World", run by K2 network.  (www.swordofthenewworld.com)

There is also a Singapore English version called "Granado Espada", generally referred to sGE, run by IAGames.

http://ge.iahgames.com/site/default.aspx

There are also about 5-6 other language versions.

As to the health of the game, the US version is in pretty poor shape. Things might be getting better though, but we don't know yet.

Basically, the last time the game was updated in the US was in October, with half of the 2.9 update. The 2nd half of 2.9 was supposed to come out in November, but for mysterious reasons, didn't.

All K2 would say is "Soon". But as the months went by, and all the other versions of the game got updates and Sword didn't, people speculated there was some sort of problem between K2 and the people who actually make the game.

This was actually recently sort of confirmed, by the new GM for the game (or one of them), alluding to "business reasons" but assuring us things are patched up and we should be getting the update in a couple months (Late May?). But they've been dishonest in the past about updates, so I'm taking it with a huge grain of salt.

Beyond the lack of updates, there's a more recent problem in bad player behavior. Apparently there is a way to duplicate items. One of the servers (Illier, the European one) was so flooded by these duplicate items, they had to close it.  They will re-open it after they erase all the duplicated stuff, but I think it's still closed.

And there's no actual fix for this duping problem. Though K2 actually recently started cracking down on it (after ignoring the problem for months), which is actually what caused the meltdown. A banned player had some unbanned alts, and went crazy distributing duped items.

In terms of players though, the game is pretty healthy. The server I play (or played on, I'm on hiatus from it since January until they update) is too crowded, actually.

Just play Granado Espada (sGE). Constant updates (latest 3.0 expansion just arrived), healthy, and fun.

K2 (NA/EU) version has pretty much been ABANDONED months ago.

sGE is way more unfair to players than Sword of the new world. At least K2 networks does not allow the selling of vis by a 3rd party.

Also SGE sells enchantment chips on the games Item mall on top of other items that K2 networks does not allow to be cash shop and makes them in game drops. K2 networks runs the game more fair and balanced for the free 2 play players. A lot of the F2P players from sGE went to SoTNW US version becasue of these isseus a few months ago when we got the last update.

Furthermore the US version of the game is at  a permanent bonus exp over all the other versions. This means you can reach the level cap faster or just get past all the boring levels faster to do the good end game content and raids.

If you want a game with way more players, a lot more to do, and very active events and features get sGE. However if you want a more fairly run, more casual oriented version of the game I think SoTNW is better. I played both games and I personally having this being my secondary mmorpg and FFXI being my primary mmorpg I like that K2 networks makes the game more F2P oriented less of a overall grind, and also I dont mind updates being slow because I only play this as my secondary game. Im sure if this was my main game I would probably like sGE a bit more. However the less the game promotes is cash shop the better for the players imo.