The 1992 2 stroke is probably the best 9.9 built by any mfg anytime.
The 9.9 Merc first came into production in late 1985 (as the new 1986 model) and stayed in production until 2012 (outside of the US).
Between 1986 and 1994 1/2 it shared a powerhead with the 6 and 8 horse models (at 12.6 cubic inch). In late 1994 they changed the platform so that it shared the 16 cube powerhead that was being used by the 15 horse - pretty much everything else stayed the same.
It has Merc's Thunderbolt 4 ignition - probably the best ignition for a portable outboard ever developed. The carb is a Walbro and while the model has changed over the years one from a 2012 model will bolt right up to an 85 model.
They have lots of guts, are otherwise well built (the powerhead and gears were built by Yamaha exclusively for Merc) and over the years they were assembled in the US, Canada, Australia and Belgium so there is a ton of them out there and just about every part on them is still in production (save the few modifications they made along the line, but those can be retrofit).
If you had "neither" motor, for me there would be no choice to make, the 2 stroke wins hands down.
But since you already have the 4 stroke (had it from new?) and you are looking at a used motor - and even with a bullet-proof 9.9 2S Merc - it may have been mistreated, so it's still a bit of a roll of the dice.
What is the asking price on the 9.9.
A 1992, in good shape, running, with some indication of recent maintenance is usually worth about 1000 bucks (in the spring) if it's been run exclusively in fresh water - knock off 25% if run in salt water or it's been "sitting" for a few years. Knock off another 25% if there is evidence of salt corrosion or it won't start but the compression is good...