Seems to be some confusion about the word depth. Tank dimensions are L x W x H. When I use the word depth I mean W. So I'm recommending the 4 x 2 x 2 because it has greater "depth" = width.
Love my 4x2x2, IMO it's all about the corals anyway.
get the 120. The extra depth will facilitate a creative aquascape with visual depth. It will also be easier to keep clean because there will be more space between the rock and the back pane. Finally, the proportions of the viewing pane are closer to the "golden rectangle" which is most pleasing to the eye.