One possible issue with Workflow 1 is that there would need to be an additional set of buildbots (for 3.5, in addition to the existing 3.x (AKA "trunk"), 3.4, and 2.7 ones) for the period from beta 1 until at least 3.5.0 is released and, ideally, until 3.4 support ends, which following recent past practice, would be relatively soon after 3.5.0.
Where does 3.6.x fit into Workflow 2?