Have puzzled on it more than once, including when I posted it, but listening to them back to back I have to go with TFT. Like the concept of the original but the recording/mix/performance isn't that great, while Stubbs & friends nail it, especially on the chorus.
Had this in my head even though I haven't listened to it in 5-10 years probably. Eventually pegged it as Mott but not before hearing A Quick One, which has the same ascending/descending two-string thing in it.