If your shop is long and narrow, option 2 provides maximum space to the left of the fence for handling large sheets of plywood. If you often work with full sheets of plywood or other sheet goods, you might want to build the table saw into an extension table surround, as San Diego woodworker Pat Curci did in his small shop (see the photo). The surround offers support for large panels, as well as provides an ample work surface near the saw.
As the comic George Carlin might say, a shop is mostly just “a place to put your stuff.” The physical aspect of a shop is indeed simply a space of some kind — a garage, a barn, a teepee — that keeps the rain, rust, and robbers away and houses a collection of implements needed to saw, plane, slice, sand, and pound raw wood into useful objects. But just like the difference between a house and a home, what transforms a building full of tools into a comfortable workshop goes beyond the mere physical aspect.