top one has more contrast, darker tones are darker than in the bottom shot
bottom one has lower midtone contrast(assuming this is the RAW file)? I prefer this one personally, it has more delicacy, and less "crunch". Just my opinion of course
I've found that for 80% of my shooting on my X100S, jpeg in Fine mode does perfectly fine for my needs(usually 4x6's or the occasional 8x10/12), and the in-camera processing usually closely matches my tweaking(which I finalize in Capture 1 when shooting RAW)
Since I still shoot my serious stuff on my 5x7 or on my GX680, both onto film, my X100S remains my "walkaround"/p&s camera(which it excels at both btw
!)
-Dan