From my point of view, it is second. Also, from my point of view, I am MUCH MORE conditioned to read second variant of code. Third point of mine is that TeX s

From my point of view, it is second. Also, from my point of view, I am MUCH MORE conditioned to read second variant of code. Third point of mine is that TeX source must be read in PDF form, not in the TeX form. I have the courage to extend that that TeX source code must be manipulated in PDF (read: readable) form, not as the source code per se.