Pretty good question. My roommate is a big Jets fan, and obviously likes Pennington. When he is on, he looks good. But my friend says it is absolute torture to watch him when his accuracy is even just a little off. With his soft tosses, the timing with the receivers has to be right on. When C.P. is on point, the receiver comes out of his break and the ball is right there. But if he is off, every single 10 yard "out" pattern is an adventure. My roomie hates the Bills, but he even mentioned last year that while Bledsoe did suck, he was very envious of a quarterback with a cannon.
Plus, C.P. (and JP too) has yet to make it through a full season without an injury.
Based on that, I would take JP.