Cat Furniture, Cat Toys

The first. Hands down.

The WalMart one doesn’t have enough of a platform in the center section for a cat to balance if it’s not a kitten. You’d be looking at an adult cat using the tree, and the first offers much better perches.
References :

Between the 2 you posted, the first one.
Both of those seem a little excessive to me, and all of the sisal posts are kind of useless. I’ve never seen a cat really use the sisal posts, my cats have always prefered the cardboard scratcher.

I would get a cardboard scratcher like this-
http://www.petco.com/product/104528/PETCO-Cat-Double-Wide-Cardboard-Scratcher.aspx
And a simpler condo with a good hiding place and perch.

And if you wanted something more exciting, I’d go for more perches and more hiding places, less sisal.
References :

Both are nice – love the Armorkat ones. The one is only 5 1/2 feet tall and the other is under 5 feet tall.

We have a 4 1/2 foot tall one that they used to use more as kittens. We are building our own (based on some of the Armorkat ones) that will be 6-7 feet tall.

I usually recommend treehouses as 5 feet minimum if you want them to get good use out of it.

Personally I’d go with the first one.
References :

The first one. It’s got more places for the cat to sit, and I don’t trust WalMart.
References :