The Orchestra Version was released in April 1999, way before the game's release. It was performed by the Kanagawa Philharmonic Orchestra and the Shenmue Orchestra and conducted by Hiroshi Kumagai. The Orchestral Version is published by Polygram. It contains 8 tracks, including the two main ones (with Shenhua in vocal and instrumental form, and a piano solo of Shenmue) as well as other tracks which you will not hear in the game, but are still excellent and often contain snatches of the main themes, the way game music should. The CD booklet contains many full page pictures of Shenhua in different dresses.
Original Soundtrack
The Original Soundtrack contains a hefty 39 tracks spread over 2 CDs and is published by Toshiba EMI. The tracks are all taken from in-game music, containing almost all the music heard ranging from the main Shenmue theme, through the J-pop "Wish..." song heard during the Nozomi motorcycle scene, all the way to the Tomato Mart music. The booklet contains many pieces of Shenmue artwork, lyrics and i've heard it contains a limited edition piece of cinefilm featuring a cutscene from the game, although I am not sure if this is true.
Juke Box
The Shenmue Jukebox CD was included in limited editions versions of Shenmue in Japan and the USA only. It was very dissapointing for people expecting a proper soundtrack disc as it included the BGM tracks taken from the many Jukeboxes in the game. This music is the same as the in-game cassettes that Ryo can purchase.
Shenhua
At around the same time as the Orchestral Version's release, Polygram also released this, a single of the Shenhua main theme. The CD included three tracks, vocal, orchestral and original versions of the song. For lyrics to the Shenhua theme and a rough translation courtesy of ign.com, click here.