You pretty much mirrored my own thinking there Dave!I'm torn. The 120 tooth brings the bike into the realm of the sick just like your fat tire builds. The 120 is also going to be a lot more challenging to make work. The sweetheart 70 tooth looks tame by comparison but it probably gives you pretty close to exactly the gearing you're looking for and looks nice and balanced on the bike.
The 120 is mind boggling, awesome and somewhat impractical, the 70 is refined and purposeful. Pick your aesthetic.
I will have to decide by the time I start work tomorrow I suppose, so I guess sleeping on it is the best option...
Luke.