Biohazard Abyss - I have also played both modes, and I disagree. Cops 'n Crooks is infinitely better imho. I can go a bit further and tell you why. Crooked Cop is effectively like a Single job from Team Mafiya Work in IV. Sure, it can be fun occasionally, but it's the same task over and over, whereas in TMW you had hundreds of different jobs that could come up in a match. Cops 'n Crooks always has variety because you have a human opponent trying to escape others - the best players use their initiative and improvise, which means matches never play out quite the same. The Crooked Cop is a computer controlled character and no harder to kill than any other.
But the whole point is the package.
I love the thrill of having 8 guys in Jackals or Schafters chasing after you, trying to take you down and the fact that when you die, you spawn in a car makes it that much more fast-paced. Day 1 Crooked Cop was amazing especially because everyone was on the same level, so everyone had access to simple equipment. If R* made it where you could edit the options in lets say the Content Creator, it would be even better.
I guess we can have our different views on which we prefer. I think the main point for me is that Crooked Cop and Cops 'n Crooks are entirely different in all but name. As you rightly say, in Crooked Cop, the whole point is the package, an object you have to collect. In Cops 'n Crooks, the objective is to take out another player before he escapes. Fundamentally, it leads to very different styles of gameplay. I'm all for the different options, I just don't want to see old stuff that was good discarded. I've platinumed V on the PS3, so I obviously liked it, but I could do with some of the magic from IV that is currently missing imho.