I have to admit I
slightly prefer the 1950s version to the newer one.
I found myself laughing outloud at the scene of Johann Tetzel selling indulgences "brother...do you have a coin for the Lord?" between that and the part feature the monks setting at the table ready to take their money just screamed TBN.
I also do like that the newer one did seem to show the sad state that the Roman church had put the laity in through its superstitious innovations (such as when Luther went to Rome).