My own vote was initially for the more subtle and accurate render. Now that I’ve studied the results more closely, the sharper and blockier render also works.
How to resize a text logo correctly in Photoshop
A lot of logos on the web look like they were run over by a truck. Blurry, jagged, hideous. Here’s how to make your resized logos gorgeous and sharp.
Photoshop CS3 Droplet: Save as GIF
For some reason it is impossible to convert ImageReady or previous Photoshop versions Droplets to Photoshop CS3. Here is a simple PS3 Save to GIF droplet for your use.