When you lay the quilt on your bed, I believe you will like #1 better because the movement will be more catching. When the quilt drapes down over the sides of the bed, you will still have lots of movement on the bed. I've made several bargellos and am distressed when I loose the effect I was going for.
As I look at it again, if you choose #1, you will have a cool little arc on both sides of the bed with those dark colors. Very catching indeed!
BTW: nice job on your bargello, no matter which way you put it together!!!