Your newer team is actually a lot better than the original, since Lapras can learn Thunderbolt and Thunder, it's not losing much, however, I do think that Arcanine can be done without, maybe replace for a Grass type? Vileplume, Victreebel etc, it'll give you more coverage.
EDIT: Did some research, Vileplume has better SP. DEF, SP. ATK, and DEF, but Victreebel has better speed, ATK, and HP. And how would Exegguctor do?