If I had to tell you my pick between basic and deluxe - I couldn't. They're both great, so I'd say "buy 'em both!" - which is what the 10-year-old in me would want to say. The only thing definitive I can lay down on this one is that my oldest looks adorable putting on swim goggles to emulate Donatello as she plays TMNT with her friends... while wearing an American Girl shirt, no less. It warms my heart.
TMNT Deluxe Figures (including Leonardo with "Quick Cut Katana Action" and Raphael with "Serious Slashing Sai Action") are available at retailers everywhere, including (my associate) Amazon: