Readability vs. Maintainability: Condensing statements to loops

Firstly, an example of what I'm referring to:

UINT f, i, s;
CONST UINT k[5] = { VK_LBUTTON, VK_RBUTTON, VK_MBUTTON, VK_XBUTTON1, VK_XBUTTON2 };

for (f = RI_MOUSE_LEFT_BUTTON_DOWN, i = 0, s = RI_KEY_MAKE; f != RI_MOUSE_WHEEL; f <<= 1, i += s, s = !s)
    if ((pMouseData->usButtonFlags & f) == f)
        SetVKeyState(k[i], s);

Compared to this:

if (pMouseData->usButtonFlags & RI_MOUSE_LEFT_BUTTON_DOWN)
    SetVKeyState(VK_LBUTTON, RI_KEY_MAKE);

if (pMouseData->usButtonFlags & RI_MOUSE_LEFT_BUTTON_UP)
    SetVKeyState(VK_LBUTTON, RI_KEY_BREAK);

if (pMouseData->usButtonFlags & RI_MOUSE_RIGHT_BUTTON_DOWN)
    SetVKeyState(VK_RBUTTON, RI_KEY_MAKE);

if (pMouseData->usButtonFlags & RI_MOUSE_RIGHT_BUTTON_UP)
    SetVKeyState(VK_RBUTTON, RI_KEY_BREAK);

if (pMouseData->usButtonFlags & RI_MOUSE_MIDDLE_BUTTON_DOWN)
    SetVKeyState(VK_MBUTTON, RI_KEY_MAKE);

if (pMouseData->usButtonFlags & RI_MOUSE_MIDDLE_BUTTON_UP)
    SetVKeyState(VK_MBUTTON, RI_KEY_BREAK);

if (pMouseData->usButtonFlags & RI_MOUSE_X1_BUTTON_DOWN)
    SetVKeyState(VK_XBUTTON1, RI_KEY_MAKE);

if (pMouseData->usButtonFlags & RI_MOUSE_X1_BUTTON_UP)
    SetVKeyState(VK_XBUTTON1, RI_KEY_BREAK);

if (pMouseData->usButtonFlags & RI_MOUSE_X2_BUTTON_DOWN)
    SetVKeyState(VK_XBUTTON2, RI_KEY_MAKE);

if (pMouseData->usButtonFlags & RI_MOUSE_X2_BUTTON_UP)
    SetVKeyState(VK_XBUTTON2, RI_KEY_BREAK);

The later code is obviously a completely unrolled loop.

This is really a question over whether readability or reducing redundancy (as in repeated statements in different areas of the code) is better in the long run.

I'm more concerned about visiting it later in the context of a large code-base. Surely reducing the number of areas to modify is a good thing; does it matter the initialisation and update statements for the for loop are a little messy?

Has anyone experience in this, probably trivial, issue.