Is there any other difference to recognize the presses a part of the colour of the label (red for the rarer and redish orange for the other, me think)? And what about the value of this, must be the rarer press? It's VG+ due to some hairlines on vinyl but plays above grade

Well this is the vinyl press also. Where the orange is a styrene one. Value wise I believe this red label vinyl issue fetches a tad more. As to how much, I don't know. 

Wouldn't the mis-spelt "I'd Be Greatful" be the first issue, which was then corrected on further issues? 

20 minutes ago, candiman said:

Wouldn't the mis-spelt "I'd Be Greatful" be the first issue, which was then corrected on further issues? 

No I doubt that these vinyl issues were first releases even with a misspelt title. Likely some kind of "rush release" to satisfy an immediate demand. The Creations on sis label Zodiac had the same fate.