I would go with horse number one with a bit of tweaking.
I'd pick up his forehand by quite a bit. That will in turn lift his face from a peanut roll as well.
Also, when he is loping, she has his nose turned into the wall, which makes a slow lope, but kind of throws off the rest of him. If he were moving straight (and he does at a few points throughout the video) then he'd move rather nicely.
Horse number two has a nice jog, although heavy on the forehand.
Because he's only had a short amount of time in training, this is to be expected.
Horse number one definitely has a better flow to him. He is MUCH more capable of western pleasure movement than horse number two.
Horse two isn't bad, but just not what I would choose if I were to compete western pleasure.
I would like to see how slow horse one could go with a bit more impulsion, but because of how balanced he carries himself, I really don't think that would be an issue for him.
Man, now it makes me want to go lope around for days... ;)
As an addition: Western pleasure has been my main competition for the past 8 or so years with AQHA.