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which GPU is better

I take it that these are for a laptop with the "m" standing for mobile.

Right, I would go for the Nvidia as the 500 series supports DX11 and the ATI 4 series doesn't.

And not to be a ****, but if you are looking to game on them, don't bother, they are crap for gaming!
 
Since neither are going to be fit for gaming surely get whichever is cheapest. Low end cards all do pretty much the same job as far as media playback goes.

As a noob are you sure you want to go about changing the graphics card in a laptop?
 
probably the 540m as it's newer, which may mean lower power consumption. don't take my word as fact as i don't really have a clue abuot mobile chips, but it's something to think about
 
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