I've got an original Pharaoh BG on mine, and although it is in good shape, it looks horrible, it is dark and fuzzy compared to the mirrored BGs of the other fantastic 4 machines.
Pharaoh is an odd duck machine, you'll probably find a Williams collector to sell it to, will probably want a real BG over a translight, and its probably worth the extra $150. Rm,ember there is a hard top for this, so maybe someone will want to 'restore' it.
With that said, it all depends on how good the repros look, and I haven't seen either style. It also depends on what shape your machine is in. If it's a player's player, then translight probably OK. If the machine is nice, go with the BG. Get it working an in the shape you want, then make your decision.
My BK has a Mayfair glass, looks great
JL has BG resto, looks OK, but it isn't mirrored
Solar Fire has a CPR and looks great
Pharaoh has original and looks dark