Imho, for a mid-range microATX/ATX HTPC, Llano wins. Even if neither can do 23.976 perfectly, Llano has more balanced performance out the gate and is better supported by freeware and open-source software. It's true that I was expecting better performance and lower power consumption from Llano but what it delivers right now isn't so bad.
Unfortunately, in the Mini-ITX space, for now it's hampered by the high load power consumption of currently available models, not to mention the lack of FM1 Mini-ITX motherboards.
Another issue with Llano, it currently doesn't have any offerings priced to compete with Pentium Sandy Bridge. Assuming you don't need Llano's graphics performance, you can save a few bucks by going with a Pentium G620.
Bottomline:
Llano's entire value is in the inclusion of HD 5550-level integrated graphics. As long as your usage can be met by the integrated graphics in Llano (and you require better integrated graphics than the competition offers, e.g. MadVR + std def), it's a pretty great choice. Once you start playing in the realm where better GPU performance is required (e.g. MadVR + 1080p60), then Sandy Bridge + discrete GPU is a better option. On the other hand, if you don't need the graphics performance of Llano and you don't mind the lack of freeware/open-source DXVA support for Intel, then you can save money by going with lower-end Sandy Bridge and using just the Intel HD integrated graphics.