Wow! The response has been great. Thanks everyone for offering your insight as to which image you liked best and why. With regards to the cloning done to the backscatter, although some cloning of a few distracting grains of sand were cloned out what you're faintly seeing as blurred is actually the background. This shot was taken under an overhang and I'm lucky to have gotten such a dark background especially since my shutter speed was set at only 1/200th of a second. I guess an adjustment of the curves could definitely help with the background.
I guess it's pretty unanimous as to which image of the two is best but I don't know.. I still think that first image has potential... What do you think?

Wishful thinking! 
So... Do you guys & gals have any favorite octopus shots taken by you or any other photographer? I've seen a lot of Octopus shots but not something that has really caught my eye. I'm sure there are plenty out there, though.
Disclaimer to (hopefully) avoid any possible lawsuits: The above cover shot of a future National Geographic image is a fake. All stories are false although the possibility of some of them occuring is possible. The use of National Geographic's front cover template is being used only for demonstration purposes. Please don't sue this poor underwater photographer who can not even get his images published on toilet paper.