Pumpkin doesn't provide the flavor. Last year I used real pumpkin in the mash with no issues, and might again just for "authenticity", but in all honesty it's unnecessary. As stated above, it's the spices which give the flavor.
Im no expert, but I would avoid using the first product. First, it could mess with head retention. What exactly is "pumpkin flavor" anyway? It's always said that pumpkin has a very subtle, barely there flavor to begin with, so what would the extract provide? Not to mention, that description is definitely not good enough for me to feel comfortable putting that in my beer. I would want more information.