Assuming we're talking full retail, I vote neither. If we're talking sale, I wouldn't do it unless I got at least 50% off and I was just looking for a pair of knock-around shoes. In that case, probably #2
there were a ton of BR boots on ebay a while back. either chelseas or jodhpurs.
i would get neither. BR's tend to fall apart quickly, and polish poorly. i was disappointed with every pair i've bought. and i bought them all on sale, between 19.99 and 45.00.
j&m's are j&m's. slightly better than BR, but not worth it at full retail either, unless we're talking aristocrafts. and at that point, you should just go to AE , Alden, C&J or Brooks.