First up is Zoku Sayonara Zetsubou Sensei. Two groups are subbing it at the moment, a.f.k. and SpoonSubs. For the images below, SpoonSubs is on the top, and a.f.k. is on the bottom. a.f.k uses a much more readable font, but it does take up more space. a.f.k. also tends to translate most (if not all) of the text in the background of the scenes, whereas SpoonSubs doesn't. a.f.k.'s raw or encoding is slightly better, but most people probably wouldn't be able to tell.
SpoonSubs: Jan. 11, 2007
a.f.k: Jan. 11, 2007
Note that a.f.k (on the bottom) explains how HAMASHO is derived, otherwise they both get the meaning across.
Based on the image of the girl in the seconds that follow, I think nosebleed makes more sense (there is no joke otherwise).
a.f.k. translated the note on the board.
I'm not sure which is "more" correct; it looks like SpoonSubs is more literal, but a.f.k. sounds better in English. Again, note that I don't have any Japanese skill!