Both work, however the second option gives you a 12" drywall in the material take-off, so for a image standpoint it works, but not the best approach.
The first option works well, thanks.
In Texas Hill Country there are a lot of very low pitch 3:12 roofs but with vertical height differences on the home, this gives a very dramatic look, however you lose height in attics and raising some plate heights gives you just a little more room.