With option 1, you can display your 5 or 4 star reviews on your site. The format can be in a masonry layout, as below, or a slider or as the corner floating option (shown in left hand corner). You can choose whether you want the 'Write a review' button or not.
With option 2, you can display reviews on your site in all layouts including corner floating option, combine review site reviews with manual reviews (i.e. received by email), auto-approve 5 star reviews, manually approve and disprove individual online reviews, send out automatic review requests email (to grow your reviews), and internalise any bad reviews so they don't get posted online.