If there was an 'Ultimate Frenzy' compilation, compiling the best versions of each track from each version of Frenzy so that there is one version of each track, what would you put on there? I'll already clear two rules:
1. The Spellbound version of Stuff And Nonsense can be included.
2. Apart from the Luton tracks on the A & M Frenzy, NO Luton tracks

Here's my run:
1. I See Red
2. Give It A Whirl (Original mix)
3. Master Plan (2006 remix)
4. Famous People (2006 remix)
5. Hermit McDermitt (2006 remix)
6. Stuff And Nonsense (1997 Spellbound remix)
7. Marooned (2006 remix)
8. Frenzy (Original mix)
9. The Roughest Toughest Game In The World (2006 remix)
10. She Got Body, She Got Soul (2006 remix)
11. Betty (2006 remix)
12. Abu Dhabi (Original mix)
13. Mind Over Matter (2006 remix)
14. Semi-Detached
15. Carried Away
16. Holy Smoke
17. Livin' It Up

Great thread SSOLB, I've thought about this a bit since the latest version came out. I don't know about a sequenced album per se but in terms of "definitive" versions of the songs, here's my list. (Note: I think it's fair to say that the sonic quality of the 2006 version is the best overall, this is a rating of mixes.)

Give It A Whirl - 2006 (though I miss the crispness of the crashing D chord guitars in the original; like the resolved ending of the new vs. the fade out of the original)
Master Plan - 2006
Famous People - 1978
Hermit - 1978
Stuff & Nonsense - 1982 remix (somewhere here Iarla mentions how he made a mix which was first half 1982 and second half Spellbound remix - that sounds ideal to me)
Marooned - 2006
Frenzy - 2006
Body & Soul - 1982 remix
Roughest - 1978 (hate the fake/mixed playing stop in the second verse of the new version, after "drive you to drink", and can't get used to the female harmonies)
Betty - 1978 (easily the best)
Abu Dhabi - would prefer 2006 if it had words; gonna have to go with 1978, with 2006 almost uncomparable, like it's a different song. Both great, but different.
Mind Over Matter - 1978/2006 is a toss up, probably 2006 (today!)

Other Tracks:
Holy Smoke - original b-side mix
Semi Detached - I can't hear any difference
Carried Away - can't hear any difference, just so glad to finally have it on cd, one of my fave Enz songs/performances

B-sides not included

-I See Red
-Give It A Whirl (1978)
-Master Plan (2006)
-Famous People (2006)
Hermitt McDermitt (2006) (I've never liked the 1978 version, 2006 in my opinion is a great improvement, but my real favourite is the Extravagenza version)
-Stuff And Nonsense (1997 - Love the acoustic guitar solo thing)
-Marooned (2006)
-Frenzy (2006)
-She Got Body She Got Soul (2006)...(hmm liking the 2006 mixes)
-Betty - I don't really like this song...there's something about it, so not sure
-Abu Dhabi (2006) (but 1978 if it had words)
-Mind Over Matter (2006)
-Semi Detached

1. I See Red
2. Give It A Whirl (Original mix)
3. Master Plan (2006 remix)
4. Famous People (2006 remix)
5. Hermit McDermitt (Luton)
6. Stuff And Nonsense (1997 Spellbound remix)
7. Marooned (2006 remix)
8. Frenzy (Original mix)
9. The Roughest Toughest Game In The World (2006 remix)
10. She Got Body, She Got Soul (2006 remix)
11. Betty (1978)
12. Abu Dhabi (Original mix, hough 2006 with words would be better)
13. Mind Over Matter (1978)
14. Semi-Detached
15. Carried Away
16. Holy Smoke
17. Livin' It Up