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I say get the second one and drop the projectors... if you want brighter lights that bad get the Saleen headlights, dont change the entire style of the light.
I agree with bl1nkage and the others... Option 1 is the way to go if you are going to keep these new lights (to change them will change the nice "old" mustang look). In option 2 the center lights does not match the new ones... the car looks strange. The hood and new front are nice!
Well I'm gonnna be another oddball and say the first looks the best, but I'm not a fan of the hood....I dunno just doesn't look right, like not to muscular or something...personally I like the cervini elenor hood, but it doesn't look right on an otherwise stock body....I dunno. I do like the saleen facia tho....looks good.