Have you test-ridden both bikes?
The gearing is identical. The Giant has better components, and honestly Giant is a better bang-for-[insert unit of currency here] than Specialized is. However, you need to determine whether the frame fits. It's not a good deal if it doesn't fit. Once you've got the fit down, everything else is gravy. You can swap parts out if you want better.
I have an Avail in the next model down (when I bought the bike, only the 3 and the 1 were available in the US, and 2009's 3 is actually somewhere between this year's 5 and 3). Good bike (only things that have been obnoxious are the bottom bracket and the front derailleur, and both are more a matter of cheap components than the bike itself); but it doesn't quite fit me. Too long, and I've discovered that relaxed geometry bikes don't work well for me anyway.