AT90usb162 fine for serial / LED project?

Hi, I've done a bit of Arduino work in the past...

I need a very small Arduino board for a project, and this caught my eye:

I'm a little confused by how it just says "Arduino-compatible". Would it work as expected for simple sketches to receive serial data (MIDI) from my computer by USB, and turn some LEDs on and off, without any extra hassle?

Or, would something like this, with an ATmega328, be better?

Thanks a lot for looking - I'm sure the answer is very simple, I'm just not quite experienced enough to be able to know for myself.