I actually own both decks. The 1909 Art Restoration is probably the closest you’ll get to a true replica of the original "roses and lilies" deck, but it has drawbacks. The cardstock is pretty thin, and any quirks from the original printing - misaligned plates, ink spots - are reproduced. The borders look a little off too, which makes sense since those were corrected in later printings.
The Centennial is almost as good for color and clarity. It feels like they used scans of a naturally aged "roses and lilies" deck. The borders were cleaned up nicely and the cardstock is excellent. There are lots of versions: the standard Centennial, the full Commemorative Edition, and even a mini in a tin. The only real downside is the copyright text printed on the cards.
Personally I lean toward the Centennial. The cardstock makes it a pleasure to shuffle and handle, and that matters to me.