daveFM2

They are both good choices as favourite lenses.
What versions/revisions are they?
Is the 50/1.2 Ai or Ais?
Is the micronikkor pre- or post 2005? From 2006 onwards, it got a more modern, synthetic grease that doesn't break down and gum up the aperture with age. These serials start at 800001. There might have been a running change from as early as 700001, but this is a point the Nikon historians love to debate.

I'm sitting trying to remember if I ever saw any camera commercials on T.V. The answer is no, of course I'm only 78 so I may be too young. One of the earliest non-camera commercials I remember from the very early 50's or sooner was the dancing legs in a Phillip Morris cigarette ad. The dancer was concealed in a replica of a pack of Phillip Morris. All you could see were some fabulous legs.

You will either love or hate the match-needle meter in the FE-2. I very much prefer the FE-2 meter over the FM-2 one.
Make sure to carry spare batteries as the shutter will only operate on B and X speeds with a dead battery.
The FE-2 has the same Ai coupling as the F3 and F4, where you can flip the prong away to use stop-down metering with unmodified pre-Ai lenses. I am not sure if the FM-2 had this feature.