The second one is an IPS panel, so the viewing angles and color accuracy will be better, but the response time is worse. If you're a pro FPS player, that's bad. Otherwise, it doesn't matter much.
I'd get the second one. It's also cheaper on Newegg (with rebate and promo code): http://www.newegg.com/Product/Product.aspx?Item=N82E16824236288 --- http://gifsoup.com/webroot/animatedgifs/55488_o.gif http://www.d-e-f-i-n-i-t-e-l-y.com/
Yeah, when both are so small, there's really going to be no difference. I'm the guy who suggested the IPS, and after comparing it to a couple other ones (one was IPS, the other wasn't), I decided that the pros well outweighed the cons and went for it. Don't regret it one bit. --- RENAMON!! *weeping* YOU HAVEN'T BENT ANYONE OVER THE SINK AND SHOVED A "CHECK THE STICKY* UP THEIR ASS IN MONTHS!! *curls into ball crying*- Cither3000