yes you can shorten the strap, and the padded strap has the BV triangle hardware which is a nice detail. Also there’s a little hack I learned from the SA where you can even wear it like a shoulder bag so it’s very adjustable.
Re: padded vs unpadded. I had the same dilemma and went for the padded. While I personally enjoy the look/construction of both, I just really love wearing the padded one. The unpadded one is a great bag too but with my clothes being simple/neutral, it just didn’t pop the way I was hoping it would. I would definitely consider adding one later down the line though. The padded was my most worn bag this summer and now going into fall next to my Loewe puzzle. I’ve had the padded in Fondant for 6 months and have worn it non stop. For me it was important to consider which one I’d wear more and was functional for my lifestyle. I like my puzzle bag as a simple bag so that’s why the unpadded didn’t quite work for me. The padded is simple while also being a statement which is what I was looking for. It can be a more “overwhelming” piece - it can stand out and is bulkier - but I am pretty tall and it works for my frame and neutral wardrobe.
You also have to consider if trends will play a role in how much you use your bag or if you’ll fall out of love with it if it’s not trendy anymore. It’s obviously a trendy bag right now, although not as trendy as when it first dropped (jodie is the more popular BV style now I think). I personally don’t care if it’s not a hot bag anymore, and frankly that exists mostly on social media.
This is just my opinion and it really depends on what works for you and which style you love enough to spend your money on! Both look great on you and you can’t go wrong either way - it’s a cool bag design. Good luck!
my one hesitation is about how much it will hold!
I do agree with 
