I'd rather go for Butland. We know what he's capable of and has ample EPL experience. Surely that has to be better than some cheap prospect from Spain deosn't it?
I actually think the opposite, how many times have we signed players from 'smaller' Premiership clubs who have completely failed to make the grade at Anfield? Carroll, Downing, Adam and Mignolet all come to mind.
He's hardly a cheap prospect if you follow Spanish football, there is a reason Real Madrid want him although it is strange how they backed out of the deal at the last minute.