The difference between the two models is as follows:
With Entity Data Model you have the database as a start, based on that database the entities and relationships with a "Data Base First" treatment are generated. This case is Data Base First using your original database.
With POCO Reverse Generator also parts of the database, the next step is that POCO classes are generated by replicating the database models and at the end those POCO classes through Code First recreate the database. This case is Code First using classes created by reverse engineering your database.
Regarding the dependency of the Entity Framework that comes by default, it is already pre-configured but it is usually a version earlier than you can find in NuGet. This version can be updated to the latest so it does not represent major problem.