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Both are nice! My pick would be #2. It seems more classic and versatile. Have you tried either one on? The fit will obviously make a big difference. If you can't get to a store maybe order both and then return one?
I am inverted triangle. I have not tried either on, I went to Old Navy yesterday and they didn't have either one. :/ And ladies you are not making my choice much easier. I am afraid that if I order both to try them on I won't want to return one.
I've tried a few different trench styles from ON and the tailoring was substandard on all of them. I would go with the first style because the more fitted styles from Old Navy tend to have better shape to them.