Uh... The old patriarch has his merits, but I think the new one isn't bad either.
The old one looks like some guy who had an accident with BBQ ribs whilst drunk and naked. He looks fragile. However, He CAN be very distracting due to the "dangly bits". Yes. I can't stop looking at them. Please, Mr. Old Patriarch, put some clothes on. I feel...
The new one, however has a bit more distinguished and look in my opinion. He has clothes and he has a bit more "british" feel to him. I think he used to be an avid fan of the Victorian era. There are 2 things I'd like to change about him, though. They are the tentacle swipe (rape?) and the protruding eye. Maybe give him a spiked tail instead which he could use to spin around and knock everyone back. The eye could be made telescopic, a bit like an camera objective if he really, really needs to zoom with his eye.
The running animation does look a bit dodgy in places, but it can probably be improved over time.