In my opinion, both of these have two different approaches from the companies.
Acer do make some good products too, though I usually buy Asus due to their build quality. Having said that, the approach taken by Acer on this one is more of a... lets look cool for the gamers thing... but in the end it just looks tacky imo. I can't comment on the panel quality of the Acer monitor but general product design simply isn't nice in my opinion.
Asus, on the other hand have went for a more simplistic approach. Something that doesn't look like it's trying to stand out but you can see is clearly built well. The panel on the Asus is also very good, as I've had a chance to actually test that one out.
Personally though, I wouldn't invest in either of these with my own money just yet. I'd wait a while until the technologies advance and the panels are more common and the prices drop. If you have the money laying about and nothing to spend it on, feel free to buy 3 of them, it's just not something I'd go for just yet. That said, if I were to buy one, it would be the Asus.
- Marc