If you are tournament fishing a live well is an absolute must. If you use live bait a live well can be advantageous. But if you are just fishing catch and release or keeping fish for the table then it is definitely not necessary. I do not have a live well, but I do tournament fish with my kayak. When it comes time for a tournament I use an igloo cooler with a battery operated aerator and a bag of ice. My aerator operates on 2 d cell batteries and will last most of the summer. I add a bit of ice throughout the day and have no problem keeping bass alive for 8 hours. Most of the time I am catch and release or meat fishing so I either let them go or put them on a stringer. So I guess to answer the question I would keep the one without the live well and make use of the extra space.