I'm not a big fan of the perforated and I also think the other might last longer, so I vote #1 I also think that is one of their most popular bags and loved.
I'd keep the 1st one. I have the signature tote in brown and Love it! The pockets on the sides are super convenient for putting cell phone and keys and no digging in the bag. Don't get me wrong I love a bottomless pit purse (already have one) but I think the signature tote is better all around. I have the same color in a grayson and the Logo does not actually stand out that much.