Where's the refrigerator in v.2? Also, where is the sink? Functionality should be the #1, #2, and #3 concern in the kitchen. #4 is how people will fit around it while the cooks are cooking, because inevitably, you're going to have guests hanging around where the cooking takes place. Where to put them without getting in the way is key.
Workspace close to the range is a big part of functionality. Even better if it is also close to the (or a, if you have more than one) sink. If you have a prep sink, space it away from the cleaning sink, and closer to the cooktop so that both can be in use, easily, at the same time. We have our microwave in an island, below counter height. Works fine.