I had actually never listened to One more time, one more chance before. I listened to Kuu's, and then I listened to the original. Being far more of an acoustic/light-rock lover than RnB, I have to admit I liked the original better.
HOWEVER I also ADORE Kuu's version. I like what she brought to it. An entirely different take. It's why I don't particularly like the term 'cover'; it just brings people to compare two versions of one song. I'm sure somebody who preferred Kumi's style of music would far prefer her version.
So really, it's subjective as per usual.