Well, the two of them has pros and cons, but I can't judge the cons properly because i have neither
But let's do this:
ID L:
Well, it is a great tama version, and it has an english version. It also has great a great special version (princess spacy), and features great additions, like planting (with the plants you can obtain great items like food), it also has various chars (32 tamatomo raisable characters) and the minigames are great. The downloads are also great, you just need a IR device to transfer the downloads to the tama like new room decors or games. The pet function is great, also; your tama can adopt a pet in the donut park.
I'd recommend it to a newbie in color tamas.
P's>
well. It's completely in japanese, but there's a donloadable patch which translates it into english. There's the pierces, which adds great features to the tama(and looks great). In this tama, your tamagotchi can attend to school and learn new skills that can determine the adult it will become. There are downloads in this version too. I can say it's a great tama for everyone, but i would recommend it to someone who already has had some experience with tamas. it's a great tama with great features.
That's it. Hope it helped!