James Smith and wife Elisabeth had ch.: Mary, b. Dec. 16, 1753.
The NEHGR article and MD article should both be based on the same original record, so I would assume the discrepancy in name is caused by problems reading the handwriting of the record. Hence, the baptism record tips the scale in favor of Mary. (If they were independent records, then the interchangeability of Mary/Marcy in colonial records would suggest Marcy was the correct name as the vital record was written by her grandfather Samuel Smith, town clerk.)