Versions have in built functionality that is not available for normal lists. However, a large number of Versions (e.g. 10+), can have performance implications due to the block structure and the lack of multi-threading available. Review the need for high number of Versions, and if the native functionality is not critical or needed, consider using a normal list to represent Versions
Best Practice Article:
To Version or not to Version
Questions on this topic? See 1.02-05 Try and avoid a high number of native Versions in our Planual forum.