Without knowing more about what your company does it is hard to give an answer. In the state the question is in now you are asking if you should pitch company A or company B, but not telling us what either company does.
My second question is you say that your friend says that he told you "investors would never give us money for the reasons I had outlined." However, you never outlined any reasons why investors wouldn't give you money. All you have said is that you are happy about your company in the current state/direction and that raising money would fill in gaps.
You also say your friend suggested a "slight pivot", which to me implies a few minor tweaks to the business model, not an entirely new model. Further along you say that the pivot creates a whole new set of problems, which to me implies that these are more than minor tweaks to the business model. In my eyes, a slight pivot would be something along the lines of a different or expanded target market with the same product, but it sounds like your friend is suggesting a completely different product.
Finally, I don't know you or your friend, so please do not take this personally or the wrong way. Just because someone has raised money before does not make them an expert in funding or in what investors want. That's not to say, that the advice he gives shouldn't be considered with weight. But he may be relating your product to his investors and believe that his investors would not fund it. That is not to say that other investors may see the product in its current state as a win. For validation of this theory all you have to do is look at a VC like Bessemer. They even list their "anti-portfolio" on their website of companies that approached them and they turned down.
What is more valuable to an investor is if you have a MVP, traction, revenues, IP, etc... Personally, based on the info you have provided, I would pitch the current company as it is. You don't need money because you are "inexperienced". Reasons you need money could include, finishing development, sales, marketing, etc... Prior to pitching I would outline how much money I am looking for and how I would spend it. The investors are going to want to know what their dollars are going to and for so you might as well have that info ready. Pitching your idea in its current state at an event like this can be an invaluable experience. You may find that your friend's advice was right on and begin making the adjustments. Just because you pitch isn't a guarantee you are going to raise money either way, so use the event as a chance to gain experience pitching. You are not going to burn any bridges with a bad pitch, and either way you will walk away with connections. You can use those connections later to reach out for further meetings. Investors like to see resilience and determination in entrepreneurs, and by taking their advice from the pitch event and applying it to your business model, it will only make you stronger and more valuable to them in the end.