As much as I like what's happening in version 2 (more description and a nice callout with dark sidebar), I definitely like version 1 better overall.

Arriving at the page cold, the second version is just far too dense. Having a link or two out to more info is a great idea, but keeping the main sign-up page simple is critical to users not just hitting back or getting overwhelmed.

Perhaps create a version 0, with even less text and more whitespace than version 1.