For me, the two essential elements of a great Steinman/Meat Loaf song are the piano and the backing vocals. The piano is the lead harmonic instrument, even if it's not the only instrument, and the backing vocals are treated as a separate instrument with distinct parts/melodies rather than just being oohs/aahs. Obviously there's exceptions to that, but generally it greats a raw but powerful sound when done well.
With that in mind, I don't think there's been an arrangement yet that beats the
original What Part of My Body. It's just a guy with a great voice singing over a great piece of music with the support of well-arranged, complimentary backing vocals. The Bat musical version is great too, but the duet part and the horns and the strings and everything don't really add anything to the song. I'd love to hear Meat sing Body alone at the piano with his older, weathered voice, along with maybe some tactful BVs like in the original Dream Engine version. I think a simple piano/vocal performance of a song as good as Body would serve as a really beautiful capstone for his career, seeing as Going All The Way apparently isn't that anymore.