I would choose the 1st option if that meant that I had the flexibility to eat the foods I wanted (with adjustments for meeting weight goals of course). We all have some limitations with regard to our diets, but I do not personally believe that I could obtain the 2nd option unless I was on an extremely low carb diet with many restrictions.
I love going out to eat with friends and trying new foods. These experiences make me very happy and increase my quality of life substantially. There is not enough research to prove that the second option would result in a significantly lower chance of complications, so the risk/benefit analysis clearly indicates the 1st option as a better choice for me.
Most days I fall somewhere between the 2 with an average in the 110s and a standard deviation of 30-40. I require a cgm to be able to obtain those values though.
I think this question is strange because you’re attempting to isolate results from diabetes management strategies used to obtain those results. However both the results and the chosen strategies each individually impact quality of life.
If in a magical universe I could obtain the 2nd outcome without changing my quality of life, then I would choose that one. Since I do not live in a magical world, I would choose the first with my current strategies and higher quality of life (for me).