Having gone through a few bottles of both, though admittedly it's been a very long time since I last used the Mild lotion, I still honestly prefer Lotion 1. Sure, the Mild lotion is alcohol-free, so if you are sensitive to alcohol, definitely stick with that version. However, as with Arcona Cranberry Toner I got annoyed they put shimmers in it. Don't get me wrong, I love shimmers, that is, in my powder or eyeshadows. I will tolerate shimmers in lipsticks, lip gloss, and on occasions, even lip balms. However, I get pretty annoyed when I see shimmers in my skincare. Of course, my bias is nothing short of silly because shimmers in skincare is nowhere as bad as, say, fragrance, coloring, alcohol, or god forbid, whatever crazy things people put in their skincare. But hey, that's why it's called a personal bias. There's no rhyme or reason to it. I just don't like it ^.^'
Another thing I like about Lotion 1 is the witch hazel. I can actually feel the astringent effect upon application, and it adds to the sense of cleanliness afterwards. When I'm traveling, shuffling through airports and sitting for hours in the air-recycled planes make me feel pretty icky and grimey by the end of the day. This is the reason I use this Lotion 1 when I'm traveling and not when I'm home, because the same nice and clean feel can get a bit much in the daily routine. So in the end, the preference for this Lotion 1 over the Mild Lotion is more psychological than actual performance.
Clinique Clarifying Lotion 1 (reformulated as of fall 2012):
Water, Alcohol denat, Glycerin, Butylene Glycol, Witch Hazel, Trehalose, Salicylic Acid, Acetyl Glucosamine, Sodium Hyaluronate, Sodium Hydroxide, Tetrahydroxypropyl Ethylenediamine, Disodium Edta, Phenoxyethanol, Benzophenone-4, Yellow 5, Blue 1.
***List of ingredients from Makeup Alley.