I chose #2 #1 because it sounds more natural to my ears. #1 #2 sounds compressed, lacking dynamic range relative to the other. The difference in dynamics makes it harder to hear other differences (for me, anyway), but perhaps because of the broader dynamics it seems I hear more musical detail in #2 #1 and more background noise (crowd, etc.) in #1 #2.
Edit: Oops, had my #s mixed up. Fixed.