As I said in my previous post - I agree with Groundloop - the lower one is just wrong. Commercial (Holographic mirror) HUDs look like the top one.
One thing you can't appreciate is that the actual point where you can see the display is relatively small and known as the "eyebox" - about 3 inches high by only about 6 inches wide. You have to get into the correct Eye Reference Point for the cockpit (often shown by sight balls that you look at out of the corner of your eye not right at) for the illusion to work. There is not the extreme angle of view as on a gunsight. This ERP is very important for CAT III as a small difference in ERP height makes a big difference in Runway Visual Range. (Sorry I don't have the books at home to prove this).
I don't know if you've looked but try searching on Rockwell-Collins & Flight Dynamics - they should have a lot of pictures of actual HUD displays.