i got to say i been watching both of these releases for a while now.
can't say i'm convinced by either
CM whilst having a huge budget and a massive team behind them appear to be churning out something that looks like a cross between OFP and COD/GRAW/R6, my biggest gripe is that its a cross platform release, while the original was PC only then ported 4 years later, this is Xbox/PS3 right from the get go.
there latest video EGO-tech demo, shows some uterly horrible things obviously aimed at console gamers, the HUD, the hit register, horrible pop-up AI control ala BF2, on the upside there are supposed to be options to turn all that shit off, and the anims look a lot smoother than OFP/ArmA, which was IMO what killed the pewpew in ArmA.
ArmA2 looks good, some tweaks, some engine fixes, not all that impressed by this weekly release of "news" footage but i guess its building up a good video gallery of what is in the game.
i think only time will tell which will be the daddy and which will turn out to be the also ran.
oh, modding wise, i guess ArmAII is sticking with PBO sqs/sqf, so straight back into scripting and modding for the community, CM are using LUA, i guess as some of the best scripters around you guys will know more about it than me, since i don't script for shit, but from a gamers perspective i think this will hinder people at first since they have to get used to a new language/syntax
http://www.flashpointgame.com/ - you can find the EGO-tech vid via this link (mods if this link is illegal feel free to delete it, i know why)