Funny how quiet this thread is.
Of course as with many things there are lots of choices. For a number of reasons I've gone the second route. Basically all of the charge sources manage themselves and the SMBS0 is my backup safety device should something go wrong with an individual cell. I've had my battery bank running for about two and a half years and other than my testing, it's never hit an over or under condition with an individual cell. I charge (and discharge) my bank somewhat conservatively, stopping charging when the pack hits 27.6 (3.45/cell). In doing this my actual capacity tests over the years have shown that I still get 400 AH out of my pack which is fine for me so I'm not worried about pushing the shoulders of the curve to perhaps get slightly more.
I had the victron equipment (and another BMS) up and running before getting the SMBS0 and it was operating just fine so I didn't see any need to change all to let the SMBS0 control everything. Also I do prefer to have redundancy and safety backup systems.... and really want to control safety high and low cut off separately.
The SMBS0 is a great little BMS and solar charge controller, but I am also a big fan of the Victron equipment and I find that the BMS 712 combined with my other victron equipment, specifically the open source Venus OS provides much more capability than the monitoring of the SBMS0. Specifically the connectivity of the Victron stuff is great, bluetooth connectivity, CAN connection, free logging to their web portal, the ability to change charging profiles anywhere I can connect to the internet, email notifications of high/low or loss of shore power and more.
Bottom line, your setup your choice there are lots of ways to have a good setup depending on your exact needs and wants.
Cheers,