Thank you for the intel! Hearing hands-on experiences with bags is key, especially given the mark-up on a pre-loved Favorite...
I did be sure to take a spin through most of this thread to be sure I knew what I'd be getting into, and saw all the pictures of various creases...I thought about that and some of the other identified downsides and don't think they'll bother me much in practice (especially if I know what I'm getting into before doing it). My primary use case for the Favorite would be as a day bag or "elevated casual" evening bag and/or on one of the many inclement weather days we have in Boston where I'd be nervous to carry one of the bags I really baby!
I've been having a very productive WFH clicking back and forth between the photos of the two bags and reading PF threads re: canvas, and think I am leaning heavily towards the less-floppy 2014 at this point.