As they stand right now #1 is better. The C2Ds outperform their dual-core PII counterparts.
They're close however and #2 has the better upgrade tree as it supports the newer x3/x4 Athlon IIs. 775 does have support for C2Q but they're expensive, getting hard to find, and really don't provide much benefit to gaming.
So, figure out if you plan on upgrading, if you decide yes then stick with the AMD (and swap the 4850/4870), if not stick with the Intel.
I do plan to upgrade my other systems but I'm not sure what route I'll be going, maybe Core i5. It sounds like I should keep the AMD since that board can support Phenom II X6 1100T or X4 965 which are the likely ones I would use. Do you know if that would perform as well as a newer board? Reason I ask is I also have Asus M4A89GTD Pro/USB3 with a Phenom II 555 and I notice that the 555 performs a little better on that board than on the one listed above.