Time makes their own carbon and has put a great deal of research into it, making it very high quality. Giant makes more bikes than anyone in the world, so they have more practice making high-quality bikes. Both are very good bikes and are fairly similar from a quality standpoint. If you have the opportunity to ride them and compare (the Giant should be easy to get a hold of....everyone and their mom has a TCR, the Time will be tougher), that would be your best bet since neither is a clear standout. If not, I'd just go with the Time.

9-speed drivetrains are being phased out, and it will become harder and harder to get parts. Shimano has already upgraded even their 105 groupset to 10-speed as of 2006. On a more superficial note, Giant road bikes tend to be a little "invisible" on group rides, but you'll get tons of comments on the Time (sounds dumb, but this actually more important than most people will admit ;))