We consider two approaches that model timetable information in public transportation systems as shortest-path problems in weighted graphs. In the time-expanded approach, every event at a station, e.g., the departure of a train, is modeled as a node in the graph, while in the timedependent approach the graph contains only one node per station. Both approaches have been recently considered for (a simplified version of) the earliest arrival problem, but little is known about their relative performance. Thus far, there are only theoretical arguments in favor of the time-dependent approach. In this paper, we provide the first extensive experimental comparison of the two approaches. Using several real-world data sets, we evaluate the performance of the basic models and of several new extensions towards realistic modeling. Furthermore, new insights on solving bicriteria optimization problems in both models are presented. The time-expanded approach turns out to be more robust for modeling more complex scenarios, whereas the time-dependent approach shows a clearly better performance.