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.
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.
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.