It's the first one. Funny thrashy music to bounce about too. I really like it. The songs are dead catchy and clever and the singer says 'DIE' in a cookie monster voice in almost every song. Winner.
However, after this they went to crap. The first two songs on 'Toxicity' are good, but after that they stick too many slow soft rock songs in. The fast rock songs seem really forced these days. Plus the guitarist keeps singing instead of playing good riffs and he sounds horrendous.