I do not think it is a good idea, the production on DCis simply awesome Remake of classics is not always a good choice for artists. Times change, not the songs.
Pretty sure the 2nd version of Babies is a remix, not re-recording.
Yes actually, according to Pulp wiki, I'm right: "The version that appears on His 'n' Hers and the Sisters EP was slightly remixed at West Side Studios, London (8 to 11 February 1994)"
Also- remake Common People?! The fuck?? Pulp definitely suffered from bad production over the years, but that's one of their best produced songs!