Funny you mention that, the photo was almost like your version but I thought it looked a little over exposed. So I took it down a bit. I guess I should have left it as looking at both I prefer the look of yours. Always learning......
Contrast was an extremely big deal to Ansel Adams and his Zone System. One of his main points was that (B&W) prints absolutely should have areas that were full deep black, and areas that were full bright white. We love seeing that in them, it is a form of sparkle. Moving the Levels Histogram White Point and Black Point to where the actual data begins (or clipping it slightly more), does that, increases contrast, blacker blacks and whiter whites. S-curves do it too. Color work normally cannot stand much contrast, but it is quite important to B&W, it makes all the difference.
Clipping is not necessarily a bad thing, it helps to increase contrast. But it does depend on what it is and how important it is. A picture of a cute little girl is different than say Ansel's work, but much is in common too. Back in the days when we were scanning B&W photos, it wasn't if to clip, it was how much. Clipping loses detail there, so no important subject detail, and no clipped skin tones, but often obscure who-cares background clutter is who-cares, if it can help contrast. Don't overdo anything of course.
Again, on the Adobe stuff (including Elements), holding the ALT key while moving the Levels White Point (or Raw Exposure) will show what is being clipped, and how much. It is very powerful to know.