Thanks for the opinions, folks. I'm on the same page: I also prefer the look of the '94-S (unfortunately it's NOT a '92-S!). It seems more original and the level of remaining detail seems pretty close to that of the '99. Surprisingly, that's not how the grading services saw it:


I remember reading that NGC had been too generous with grades for coins from the Jules Reiver collection and that does seem to be the case here. Apparently NGC did not see any significant evidence of cleaning, although I do see some light hairlining on the obverse.
The '94-S is in an old ANACS holder and they do seem to have been very conservative on the grade. It may have been down-rated due to the dark toning patch under the eagle's wing. I can't make up my mind whether this is toning, dirt, or perhaps the first sign of corrosion. In any case, the coin is a lot closer to EF40 than VF30, in my opinion. Since I only paid VF money for it, I figure I got a fair deal.
Thanks again for the input!