Which of the two laptops to choose? Confused!

I am not computer savvy and I am going to get a labtop in a few days for college and I pretty much narrowed my choices down to two computers:

I don't know what some of this stuff means but i am just putting down some of the specs that they list so hopefully you knowledgeable people will be able to help me make a decision.

1. Model Name: HP Pavilion Laptop

Link to the computer and more detailed specs: http://webcache.googleusercontent.com/search?q=cache:LX...

Processor: HP Intel Core i3-330M
Processor Speed: 3MB L3 cache and 2.13GHz processor speed.
Cost: $700
Memory: 500GB hard drive 7200 RPM
RAM: 4GB DDR3 Memory
Display:15.6"
Operating System: Windows 7 Home Premium 64-bit
Battery: 6-cell lithium-ion lasting up to 3 hours and 30 minutes
Graphics: Intel® Graphics Media Accelerator 4500MHD
Video Memory: Up to 1695MB

2. Model Name: HP dv7-3160us

Link to the computer and more detailed specs: http://www.frys.com/product/6131569?site=sr:SEARCH:MAIN...

Processor: AMD Turion II Ultra Processor M620
Processor Speed: 2MB L2 cache and 2.5GHz
Cost: $680
Memory: 500G hard drive 7200 RPM
RAM: 4GB DDR2 Memory
Display: 17.3"
Operating System: Genuine Windows® 7 Home Premium 64-bit
Battery: 8-Cell Lithium-Ion Battery (website doesn't say how long it lasts before battery dies)
Graphics: ATI Mobility Radeon™ HD 4530 Graphics
Video Memory: Up to 2302MB total available graphics memory with 512MB dedicated

I am mostly looking for a good reliable laptop that is fast. Like I can multi task like watching videos and having internet browsers open without having the laptop lagging. I'm not much of a gamer but I would like it to be able to run modern computer games without problems. Battery life and Display size are not major determining factors in my eyes. So basically: Could anyone help me with deciding on which laptop is the best at multi tasking without lag, good graphics, and overall reliability.

P.S. The links that I posted provide all the specs to the respective computers. They are more detailed and include more details than I did in my post. Thanks for reading this incredibly long post and taking the time to help me with my dilemma.

Sincerely,
Meya Loo