I prefer the first untouched version I think, rather than the HDR version (sorry Slobodan). I also think it might have been possible to get around the overly bright blown out sun effect by using the best hard edged grad filter ever invented, why is it the best? Because you always have it with you that's why and it is your hand - let me explain.
If you have a very bright scene, i.e., one with the sun in it and no grad and you don't want to go down the HDR route, then use your hand as a grad filter whereby you set up the shot as normal and meter for the foreground etc, then completely block the top brighter part of the scene with your hand, then wait a while until the sun drops behind a cloud or just below the horizon and take a second shot, with the same settings and blend them together. Obviously you cannot move the tripod or the camera between shots and the shots have to be done as close together as possible for seascapes, or the sea has gone out etc. But with a bit of practice and at a push when all else fails, this hand grad technique can really work quite well.
You will all be out photographing your hands now won't you?