It really comes down to personal preference. You'll find arguments on both sides of this particular fence. Myself, I favor option 1: returning as soon as you can. I believe it expresses the intent of the code better; there's no reason to stick around longer than you have to. If you've completed all your work, return.
Sometimes, you'll have multiple possible return points, and "end-of-method" work (logging, cleanup) that might lead you to a single return statement. Nothing terrible about that, but you can often handle those situations in finally blocks or with aspects in aspect-oriented programming.
