I've seen both of them pitch several time each of the past three years. Cole obviously has great tools and is very projectable. I think Bauer is ready for the Major Leagues today and has a chance to be better than Lincecum, as outrageous as that might sound. Cole will go higher, but if I had the pick, I would take Bauer in a heartbeat. I believe John Savage, the UCLA coach, would make the same choice (regardless of who pitches on Friday nights). Heck, Savage had Charles Brewer pitching on Sundays two years ago and he will be in the Big Leagues later this year with the Diamondbacks.
Barring injury, Bauer probably will win 200 Major League games or more. He throws hard, has three pitches and understands the art of pitching. Cole throws hard. When that fades even a little, questions arise.
How someone who has not actually seen these guys can make a judgement is beyond me.
All that said, I sort of feel sorry for the guy who goes first. He will be sentenced to Pittsburgh and that cannot be a good thing by any definition.