With both JSON raw html you still have worry the contents being safe, after all JSON is JavaScript code. I suppose if you don't trust the source of your HTML data then you are open to all sorts of Cross Site Scripting attacks. Consider sending the data as JSON and using Javascript Templating library like the one in Yahoo UI library, see http://developer.yahoo.com/yui/docs/YAHOO.lang.html#method_substitute
then let the Front End Guys maintain the templates.