Which version? Kraft makes several types. That's the point of focusing on labeling and ingredients, so that no matter what their marketing department changes, anyone that cares can find what they actually want.

Serously. Kraft makes something like 5 sliced cheeses for different markets. Might even be more than that.

That being said, I did the work for you, despite the sense of entitlement.

The Kraft "American cheese slices" that have a front label that says "kraft singles", and specifies 2% milk is a cheese product rather than a pasteurized processed cheese. The ingredient list of cheeseless, but does include dairy.

The "deli deluxe" has cheese as the first ingredient, and has added water and milk alongside the standard emulsifiers, colorants, and preservatives. It is American cheese rather than a cheese food or a cheese slice, though it obviously isn't as good as it once was. Years ago, when they came out with the deli deluxe, it was only cheese, sodium citrate, and salt. The cheese itself had the colorants, but no extra preservatives.

The Kraft singles branded without the specified 2% milk on the front has cheese as an ingredient, but it is the second ingredient, with the first being milk. It also has a longer list of ingredients, including dairy products. This it in between the other two, and (iirc) is classed as a cheese food.

Out of those three, the deli deluxe is as close to the original version James Kraft made as you'll get today.

Having used all three at various points, the 2% is crap. It does melt well on a hot sandwich, but fails in other applications because it gets a little separated over time when heated. The non 2% labeled is fine for most purposes, and has a better taste imo. Both the non 2% and the deli deluxe can be used for cheese sauces that include other cheeses, as there's enough sodium citrate to emulsify a decent enough amount of unprocessed cheese.

Imo, the best option available at a chain grocery is boar's head. It's essentially the bare minimum of ingredients for yellow American cheese. Barring that, the Kraft deli deluxe is the best commonly available brand. I haven't tried every brand out there, and not all brands are available everywhere, so there may be plenty that are as good as boar's head, and I just haven't had them.

Out of the chain stores, the only one I like is publix. Their basic cheese is the same as deli deluxe. harris teeter, and giant eagle are acceptable, as well, but publix melted the best and tastes the best to me. The rest of the chains fell short in other ways, or didn't even have cheese as an ingredient.

Borden sucks. Worst name brand cheese I've ever had.

Horizon organics is crap too. You'd think a brand focused on organic milk would do better, but it's bland and melts poorly

Can't recall any other brands that stand out.