I've enjoyed both trailers so far, mostly because they do something different each time. With Ruby's trailer, we see her using a very unique weapon to cut down two waves of cannon fodder enemies with ease. With Weiss, we have a very different weapon with a very different fighting style, taking on what would appear to be a much stronger, likely miniboss level monster.
Each trailer has shown us parts their characters' history and abilities. Ruby began looking at a type of memorial or grave marker that had a rose on it. "Red like roses fills my dreams and brings me to the place you rest:" This tells me that Ruby is probably on a quest to avenge a lost loved one. Likely her grandmother if the Red Riding Hood resemblance is intentional, despite Monty Oum's denials. Also, Ruby's sole ability seems to be her skill with the Crescent Rose, as she didn't use any magic in her fight (although it's quite possible she just didn't need it)
Meanwhile, Weiss is also giving a concert at the same time as her battle. This either means that the battle was a spiritual one that the audience couldn't see, or she was flash-backing to the battle during her performance. The lyrics from the two songs: "White is cold and always yearning, burdened by a royal test", and "I can't keep it from the world, why won't you let me hide from me?" hint that Weiss has a royal connection, along with something she is trying to hide from the world and herself. This enforced by her being "the loneliest of all." My theory is that she is a princess trying to hide from something (evil queen?) and thus is cold toward others and lonely because of it. These points all seem to allude to her being similar to Snow White, adding to the classic fairy tail connections (could the suit of armour have been the huntsman?) Her main ability seems to be the magic that she can use in combination with her rapier to boost her attacks, speed, and to create launch points to strike from. Also, her magic circles and several attacks involve a snow and ice like appearance.
In response to any worries about story or if the show will be too action heavy, Monty and his coworkers have said several time on the RT Podcast that there will be plenty of plot and the trailers are more for the animators and characters to show off what they can do, rather then give the audience the idea that it's going to be non-stop fighting like other shows.
My preference? Well, I can't make up my mind. I normally think giant oversized weapons are stupid, but the Crescent Rose's recoil-swing mechanic is so cool it blows that complaint out of the water. Meanwhile, the rapier is one of my favorite weapons of ever, of all time (I take fencing classes). I really like the magic mechanics in this one too. Not to mention that any kind of double edged sword in anime is a bit rare due to the Japanese preference for katanas (which I hate), so this get my interest in a big way. Having a main character with a skill based weapon that favors speed and precision over HAVING THE BIGGEST BLADE EVER LOOKING AT YOU ICHIGO! is awesome.
The music in both is awesome, but I think I like Red like Roses better just because I could understand the lyrics without having to look them up. Mirror Mirror does change it up by having the song continue through the fight scene to the end.
I might change my mind after the show starts and I learn more about their personalities, but Weiss might just become my favorite character in this show, just by using a relatively normal sword and ice magic, which is also one of my favorite elemental abilities.
TLDR? Just read it you lazy people.
