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It is really hard to tell the first one without seeing real life photo. however, one thing that stands out is that the pendant in the second photo may not go well with the chain. the plain metal edges make the pendant appear harsh, which is inconsistent with the slightly busy looking chain. This same pendant may go more nicely with a thin, plain looking chain.
Between the two! I like the first one better. if you examine the photo more closely, the pendant is not 100% covered with diamonds in the front. it has only a few more point size melees (tiny flashes, that's all). In real life, it may not look as flashy as the photo indicates. even so, a little bit more sparkles does not hurt. Besides, the milgrain finish makes it more refined and feminine, and consistent with the slightly busy looking chain.
in terms of the bale, I think the thinner one in the second photo goes better with the design in the first photo.