I believe that SRV took aim at what Hendrix did with this and took to another, equally powerful and sonically beautiful place!! Love both versions, but I favor Stevie's tone sometimes; he and Jimi, both expressed such ease and unpressured graceful and fluid style!!!
One of the only covers of this that I have heard that sound like the guitarist has actually somewhat realized what the Jimi was actually playing. Not better, not actually even close to the original but then again, Jimi was godlike in his powers :)
I love SRV and Hendrix and I think SRV does some songs better than Hendrix and Hendrix does some songs better than SRV. They both have their own uniqe styles so thats why they each have songs that are better than the other like Jimi's Voodoo Child (Slight Return) and SRV Little Wing. But that is just how I feel.