No question, the 9700. I assume you meant 9700 rather than 9700P, as the 9700 (~$215) is much closer in price to a 5600 (~$180) than a 9700P (~$265)--in the U.S., that is.
All 9700/P's should be the same speed, so the main differences you should concern yourself with are warranty length and terms (location of RMA center, who pays shipping, turnaround time, tech support hours). Also, if you want to run dual CRT's, make sure a DVI-DB15 adapter is included. If you're going for a 9700P, it might be worth just buying a retail ATi version at a local store for $300 + tax rather than buying an AIB one online--returns and RMAs should be easier (at least for the first 2-4 weeks), and ATi probably has a longer warranty than most AIB's (3 years). I think a 9700 (non-Pro) is an overall better deal, though.