Localized content vs. localized presentation of content

Which is better: localized content, or localized presentation of content?

For example, which is better:

  • Serving

    <span class='date'>February 2rd at 8:30 PM EST</span>

    to me, and equivelant things to other users, or

  • Serving

    <style>.date{binding:datelocalizer.xbl;}</style>
    <span class='date'>2006-02-03T01:30Z</span>

    to all users

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