I read the same review Geo. If you look at the random and sequential 2MB read/write tests they both show the drive ~500MBs on the read. He gets that with the larger drive, but the smaller one doesn't get anywhere near that. He only gets 220MB read.
I'm still at a bit of loss as to why it's doing so bad. My problem was solved by moving my 840pro from SATA 5 too SATA1. (My 470 is on SATA0.) I see in that pic that both drives show how full they are, the smaller one is "nearly full" at only 25GB free. As a percentage you are looking at only ~22% free, that might be enough to slow it down? Is the 120GB your OS drive? Maybe OS things are slowing down it's scores? Finally I see they are using different firmware numbers, though the 120GB looks to be on a newer one. Try looking online to see if there is a newer firmware for that drive. I assume if you swap cables between the 120 and 240GB drive the performance for both stays the same?
I take back what I said about the 240GB drive having issues. While the start of that review did say it should hit ~535MB in write tests none of the tests showed it can hit that. You are lucky to hit 300MBs in write tests when they test it. Shame on Corsair for listing "up to 535MB" write, but give us a drive that can only do ~300MBs. Looks like your 240GB drive is fine as measured by real tests.