Given the fact he was starting over in 1838, I think the account in the Pearl of Great Price is remarkable. I think Joseph, like Nephi, could measure the importance of events he had lived from the distance of some years' reflection about them than he ever could have as he lived them. What we get in the JS-H is the benefit of Joseph's considered hindsight. He also could write better the meaning, or intent, of the message he received. He could interpret the visits, and make much more sense of them than he could when they happened. Nephi did the same thing. His Small Plates of Nephi were a production of his history begun some 40 years after the departure into the wilderness from Jerusalem. He wrote with all the insight and understanding of how the early events led in turn to the later results. He could see the preliminary disputes in the wilderness against the backdrop of the rebellion and rejection of Nephi following the death of their father, Lehi. He could align his visions with his father's, and show how the elder brothers rejected both.
Joseph Smith used the First Vision and his account of Moroni's first visit to foreshadow in the narrative all of his later prophetic work. It was an inspired explanation, using both scriptural and doctrinal coordinates to establish the Divine and angelic origin of his history and ministry. The JS-H is all the more valuable because of this inspired approach. We are better informed about what was really going on in Joseph's ministry because he told the account by using language of scripture to testify of what he experienced.
I want to comment on the process of Divine or angelic communication and how that makes its way into the written record of a prophet. It is more complex and subtle than most readers can conceive. For the most part, we read the scriptures as a completed work, and think the words give us everything we need to understand doctrine. That is not at all the case. We must arrive at the same place as the ones who wrote the scriptures in order to be able to understand what they mean. Until we share the same view, take in the same Spirit, and have similarly been exposed to the direct influence of heaven, the words are incomplete and can be very misleading.
The angel Moroni appeared to Joseph in his bedroom, and took hours to communicate understanding to young Joseph. The version of that visit we have in the JS-H was written about a decade and a half afterwards. It reflects Moroni's meaning and intent, but accomplishes it by supplying direct quotes from scripture. The account we have looks like a doctrine class, with Moroni as gospel doctrine teacher and Joseph as student. It is doubtful, however, there were any "words" exchanged between Moroni and Joseph. It is also unlikely there were "scriptures" used. Instead, the encounter likely consisted of Moroni conveying directly into the mind of Joseph the thoughts of Moroni's own mind. Joseph would later attempt to explain this using these words: "All things whatsoever God in his infinite wisdom has seen fit and proper to reveal to us, while we are dwelling in mortality, in regard to our mortal bodies, are revealed to us in the abstract, and independent of affinity of this mortal tabernacle, but are revealed to our spirits precisely as though we had no bodies at all." (TPJS p. 355.) This makes it seem as if it were less "real" than if it involved normal faculties, but it is in fact far more real, far more precise, and far more communicative to the mind, heart and spirit. It "imbeds" the information within the person. As a result, the impression becomes more clear with time.
As Joseph worked to reconvey the information to us, writing in 1838, he resorts to using scripture to make the meaning clear to us. Moroni is quoting various passages of scripture to Joseph, as described in these words:
He first quoted part of the third chapter of Malachi; and he quoted also the fourth or last chapter of the same prophecy, though with a little variation from the way it reads in our Bibles. Instead of quoting the first verse as it reads in our books, he quoted it thus: