Video resolution is fixed, and isn't affected by the quality of the camera. All PAL video cameras have the same resolution (625 horizontal lines) and all NTSC video cameras have the same resolution (525 horizontal lines). Yes, PAL has the better resolution. So if resolution is your only concern, the question you have to decide is "Do I prefer PAL over NTSC because of its resolution?" not "Which of these two cameras do I want?" Also, anytime you showed your PAL videos on NTSC equipment, you'd lose that resolution.
CCD resolution is one of the ways consumer video camera manufacturers try to muddle consumers. The "megapixel" count on a camera package refers to the camera's still photo resolution, not video resolution.
As for the quality of the cameras overall, you probably want the NTSC camera because it has a much larger CCD. Larger CCDs = better image quality. Low color saturation is one of the main tell-tales that you're using a home movie camera. Larger CCDs give you better color. 1/4 inch is pretty small, but 1/6" is miniscule.
But: Because the frame rate is slower on PAL cameras, more light gets onto the CCD with each frame, so color is better. I suppose that a sixth-inch CCD in a PAL camera might have the same color performance as a quarter-inch NTSC CCD. You'd ahve to shoot the same subject in the same light with both cameras and compare the results.
What kind of video are you making? How do you intend to distribute the final product? Unless you intend to distribute your videos entirely on the net, or are an expert and equipped to deal specially with PAL in an NTSC country, you'll want the NTSC camera.