A traditional translation of VS 78 is: "The noble man is chiefly concerned with wisdom and friendship; of these, the former is a mortal good, the latter an immortal one." [Ὁ γενναῖος περὶ σοφίαν καὶ φιλίαν μάλιστα γίγνεται, ὧν τὸ μέν ἐστι θνητὸν ἀγαθόν, τὸ δὲ ἀθάνατον.]
I just read a different translation (I found it in a PhD dissertation in Spanish). Probably, Don can say something about it. The author affirms that the original form of the Saying is:
Ὁ γενναῖος περὶ σοφίαν καὶ φιλίαν μάλιστα γίγνεται, ὧν τὸ μέν ἐστι νοητὸν ἀγαθόν, τὸ δὲ ἀθάνατον.
But, he says, there was a correction in Hartel manuscript which changed νοητὸν (intelectual) for θνητὸν (immortal) (there's a footnote which refers to "Wotke y Usener 1888: 197"). Apparently, Long & Sedley (and Bailey) took that correction as well as most of editors.
In brief, the translation would be: "The noble soul ocuppies itself with wisdom and friendship; of these the one [wisdom] is an intelectual good, the other [friendship] immortal".
I think this can enrich our understanding of this VS, or at least add something to discussion.