I think I'd go for option 1. It would look less like a toaster overall but way more durable.

However, I've read in a couple of places that polycarb isn't suitable armour anymore, but haven't listed why.
Mounted incorrectly, polycarbonate can be brittle but I disagree that it is not suitable armour mounted right. I used a 10mm polycarbonate wedge on my old Middleweight and stood up to a lot though I doubled up on the leading edge to 20mm for increased durabilitity. Jibril uses polycarbonate as its top armour as well, hasn't really let me down yet.

Armour smarter, not harder etc etc.