Top job on the sites, both look incredible! Personally I prefer the first one as I found it easier to use. I think its just because I'm generally used to scrolling down as soon as I get onto any site. I don't think it's over the top at all, the use of full width video makes it dead clean. It would be nice on this first one if there was a title for each video as in the second one, maybe you could overlay it and embed the play button into a text box? I got bored and did a couple of (extremely quick!) jpegs from indesign of how it could work:
The second is definitely more minimal like you say (love love the title layout/font choice) but I just think it'd be best to stick with vertical scroll, as it took me a while to figure out how to horizontal scroll. On this second one I think the preloader works nicer than the first, wicked little kaleidoscope effect.
Well in, they look unreal!