The liner notes say this:bobbydriver wrote: 2) It suggests that there were two Valentin mixes (the closet mix was ?later replaced by yet another Val Valentin stereo mix?). I didn?t know that. Are they obviously different?
Oh and in response to the question "how much better than PSAS (for the Closet mix) and the 1996 CD (for the Valentin mix) can the mastering be? "
Well it says that all tracks will be available in HD Audio format so I guess that's better quality audio than those standard CD remasters..if you want it
Reed attempted to literally create that experience on The Velvet Underground in what Morrison called the "closet mix," done by Reed himself and used on original 1969 pressings of the LP. (It was replaced in later editions by another stereo mix done by Valentin.) "I thought it sounded like it was recorded in a closet," Morrison said of Reed's effort, which pressed the vocals to the fore, far ahead of the instruments and rhythms. "I guess he felt the real essence of the tracks was the lyrics."
In my mind that means that the stereo Closet Mix was replaced by a stereo mix by Valentin. (i.e the closet was replace by another stereo mix, which was by Valintin. I don't think it means that there were two Valentin mixes.
The Valentin HD remaster has been available since 2012. It sounds good but not clear whether it's the same one as on the new set.