Here's a blog post I wrote in 2006.
A masterpiece like the Franz Liszt's Sonata in B minor can never have a final and definitive interpretation of course, but after working on it, (or even just studying the score in great detail) one begins to expect certain things from any performance.
It has been recorded more than 60 times by the latest count (source: International Piano), and I personally have about 20-25 recordings of it.
I thought I might list the ones I like the most (and least).
I find Horowitz' first account (1932) too fast, and the second one (1976) too affected, almost to the point of parody, and yet somehow, both are still brilliant and captivating.
Argerich's recording is famous and nothing short of amazing at times, but it strikes me as very rushed. I do not say she plays it that way, "just because she can", (I am sure she really feels it that way), but for me it does not work as a whole.
Leslie Howard's version is almost unbearably bland and fast to the point of total failure. It is a shame since during his incredible traversal of the complete works, he blessed us with so much wonderful Liszt. To quote another reviewer "unfortunately he makes it sound like just another opera transcription".
Brendel's 1981 reading is brilliant, his fugue is one of the best, and his structural power is, not surprisingly, incredible.
Richter (a number of live recordings) and Gilels (live, and a 1964 studio) are both stupendous. Filled to the brim with power, and yet elegant and beautiful.
Cziffra dazzles and has a exquisite tone through much of the work, but he comes off as quite episodic, with little overall structure.
Zimerman's recording (1990) is wonderful and obviously planned down to every detail. The pacing and tempo relations are among the best achieved.
Pollini is fantastic. Sleek and modern, he builds the piece like an edifice of sound.
Pogorelich's rendition is another amazing one. Compare Pollini and Pogorelich and you can see how truly inexhaustible the work is. They could not be more different, but both work to great effect. Pogorelich is slower than most in many parts, but wildly fast in some of the faster sections. He seems to walk a tightrope, switching from gigantic power to amazing lightness.
John Ogden's 1964 recording is quite a disappointment, episodic to the point disconnection.
If I absolutely had to pick just one recording though, it would be Arrau’s 1970 recording. Seemingly carved from granite, it is a monument to structural cohesiveness, but structure is not the main feeling one gets from the interpretation. It is beautiful in tone, and free from all traces of affectation, but it is not just a “pretty” rendition. He has power to spare (in the vein of Horowitz and Richter), but never bangs, all the fortissimos are deep and rich sounding.
There are many more worth mentioning, but this is a good place to start.
My recommendations:
Arrau
Brendel
Gilels
Pogorelich
Pollini
Richter
Zimerman