I think celestial bloodline is more interesting than what was made.
There are ways to make a celestial bloodline interesting. I've played in a homebrew setting where aasimar made up the 'noble class' of a kingdom ruled by descendents of divinity. The Kalashtar of Eberron were basically repackaged aasimar (though with different stats and smelling strongly of deva). I mean, sure it's doable, but 3E didn't give you much to work with "out of the box" as it were.
Contrariwise it's pretty easy for even the most unimaginative player to come up with an interesting hook for the endlessly reincarnating deva. Hooks from past lives practically write themselves.
I don't know how you could find the former "more interesting" in any kind of objective way. It's a Far Realms point of view (completely alien) from where I'm sitting.