ACR MLG SIGHTSEEING OVERSHOOTS ALT ON CLIMB.

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DURING LEVEL OFF AT FL310; F/O ATTN DIVERTED BY CAPT'S OBSERVATION AND REMARK ABOUT A TOPOGRAPHICAL LANDMARK NEAR PGS VOR. THE DISTR; THOUGH MOMENTARY; ALLOWED THE ACFT TO OVERSHOOT FL310. RECOGNITION AND QUICK RECOVERY KEPT ALT DEVIATION MINIMAL; HOWEVER ZLA OBSERVED THE OVERSHOOT AND RESTATED THE ALT CLRNC OF FL310. ATC FURTHER REQUESTED A CALLBACK WHEN LEVEL FL310 BECAUSE OF TFC IN THE VICINITY. SUBSEQUENTLY; THE FLT CONTINUED W/O FURTHER INCIDENT. CONTRIBUTING POINTS FOR CONSIDERATION: THIS AIRLINE COMPANY OPERATES MLG A AND MLG B. THE MLG B HAS A MORE SOPHISTICATED AUTOPLT SYS WITH ALT CAPTURE/HOLD; AS WELL AS DUAL ELECTRIC ALTIMETERS THAT ALWAYS READ THE SAME. THE MLG A DOES NOT; AND REQUIRES MUCH MORE CONCENTRATION; WITH A CROSS SCAN TO THE CAPT'S ELECTRIC ALTIMETER WITH RESPECT TO THE TRANSPONDER AND ENCODING. THE F/O'S BAROMETRIC ALTIMETER USUALLY READS 100-200 DIFFERENT (USUALLY HIGHER) AT ALT. IN THIS ACFT THE F/O'S ALTIMETER READ APPROX 150' LOWER (THAN THE CAPT'S). THE CAPT'S REMARKS ABOUT A LANDMARK DREW THE ATTN OF THE F/O AT A CRITICAL TIME--WHILE IN LEVEL OFF TO CRUISE ALT. THIS DISTR BROKE THE F/O'S SCAN OF BOTH ALTIMETERS TO OUTSIDE THE ACFT; ALLOWING THE ACFT TO DEVIATE ABOVE FL310. THE PREVIOUS LEG FLOWN BY THE F/O WAS IN AN MLG B. ALTHOUGH INSTRUMENTATION IN BOTH ACFT IS SIMILAR; THE MLG A DOES NOT HAVE THE MLG B AUTOPLT SYS THAT INCLUDES ALT CAPTURE HOLD. THIS REQUIRES CONCENTRATED EFFORT BY ALL PLTS TO DISTINGUISH THE DIFFERENCE ON DAYS OF MULTIPLE LEGS WITH ACFT CHANGES; ESPECIALLY FOR NEW F/O'S. WITH REGARD TO ATC; THE F/O HAD RECOGNIZED THE OVERSHOOT AT 31300' ON HIS BAROMETRIC ALTIMETER AND WAS RECOVERING WHEN ATC REPEATED THE CLRNC TO FL310. WHEN ATC NEXT REQUESTED THE FLT'S ALT; THE CAPT RESPONDED WITH 31500' (HIS ALTIMETER) THAT THE FLT WAS RECOVERING FROM AN OVERSHOOT. ANOTHER ATC VOICE REQUESTED THE FLT CALL LEVEL AT FL310; TO WHICH THE CAPT IMMEDIATELY RESPONDED 'LEVEL FL310;' AS THE ACFT HAD QUICKLY RECOVERED. ATC THEN STATED THE FLT HAD TFC AT FL330 AND 7 MI. THE CAPT ACKNOWLEDGED AND REPEATED 'LEVEL AT FL310.' NOTE: THIS COM BTWN ATC AND THE CAPT WAS CONTINUOUS AND UNINTERRUPTED; AND THE ENTIRE INCIDENT SPANNED APPROX 10-15 SECS. AGAIN; THE ACFT WAS LEVEL FL310; ACKNOWLEDGED AS SUCH PRIOR TO ATC'S ADVISORY OF THE TFC AT 7 MI AND FL330; AND DOES NOT APPEAR ANY INFRINGEMENT OF AIRSPACE TOOK PLACE WITH THAT TFC. THE FLT CONTINUED W/O FURTHER INCIDENT OR CONVERSATION FROM ATC WITH REGARD TO WHAT HAD TAKEN PLACE. RESOLUTION: FOR THIS PLT; THIS INCIDENT WAS A RARE OCCURRENCE; A BLOW TO PERSONAL STANDARDS AND PERFORMANCE; YET A HUMBLING; LEARNING EXPERIENCE. AS A NEW F/O WITH THIS AIRLINE; A CONTINUING LEARNING EFFORT AND DILIGENCE WITH RESPECT TO THE DIFFERING ACFT WILL ENHANCE MY PERSONAL STRIVE FOR ABSOLUTE DISCIPLINE AND PROFESSIONALISM IN FLYING I THINK THE CHAIN OF EVENTS SPEAK FOR THE CONTRIBUTING CAUSES FOR THIS INCIDENT; AND AGAIN; PERSONAL EFFORT WILL PREVENT A RECURRENCE. SUPPLEMENTAL INFO FROM ACN 94466: AT FL300 I CALLED OUT '1000 TO GO.' ALT ALERT SOUNDED. DIRECTED MY ATTN OUTSIDE THE ACFT. NEXT CALL WAS BY ZLA WITH; 'YOU WERE ONLY CLRED TO FL310...SAY YOUR ALT.' A GLANCE AT MY ALTIMETER SHOWED OUR ALT AT FL315. I IMMEDIATELY MOTIONED THE F/O TO LEVEL OFF AND AT THAT TIME THE ALT ALERT WENT OFF AND THE F/O RAPIDLY STARTED TO CORRECT BACK TO FL310. THE F/OS COMMENT WAS INTERESTING. HE SAID; 'I GUESS I THOUGHT I WAS IN AN MLG B AND IT WAS GOING TO LEVEL AT FL310 FOR ME.