Cute Honey is much better in the sense that it has had several adaptations without much hassle as far as I know. My favorite is New Cutie Honey, but Cutey Honey Flash is also nice. I've also seen Re Cutey Honey and Cuteu Honey The Live (which is the live action version). I love Cutey Honey of course.
Im not sure but I don't think Go Nagai was that overprotective of the series. Not sure about that now.