Just listened to it.
My opinion:
- instrumental is brilliant
- Freddie's part could have been louder
- Michael's part sounds amazingly beautiful, louder than Freddie's. Like he's closer or something. Like his vocals are above the instrumental while Freddie's vocals were little buried in the instrumental.
- Third verse (duet) sounds good in my opinion. Michael is again louder (which is fine by me although I understand that some Queen fans will be pissed) and Freddie is again little buried into the mix or somehow in the background. Michael sounds louder, yes - but given that Freddie has more vocals (he sings first 2 verses completely alone), I think that's fair.
- Mixing of the vocals in the third verse isn't perfect, but remember that the "duet" never happened. William Orbit had to blend Freddie's studio vocals with MJ's demo which he recorded in 1 take and make an artificial or "fake" duet. So given the situation, it's not that bad. It's actually quite good.
- Trading lines, like in the fanmade version and Queen snippet version, would make more sense to me and I think it would be better that way. But I understand that he wanted to make it like this, as Queen feat. MJ, which is fine by me. The actual duet never happened, so editing the vocals one way or another to make a duet makes no difference. We can't say he wasn't true to the original demo because there is no demo of the duet.
- All in all, I like the song. I'll give it 4/5.