If the other options aren't as appealing, I would probably opt for the earlier show and deal with the crowds. Plus, if you somehow missed the first show, you would still have the option of another one (note that only select nights have two shows).
They generally start seating everyone in the first sections where you enter, starting with the bottom rows that are closest to the water and moving up.
There are two potential strategies.
1) Be first in, so you can be seated near the entrance/exit and, ideally, be first out.
2) Be seated at the far end of the theater, where there are overflow bleachers as a secondary option (in brown above). You might want to get a regular seat first and then move to overflow, if needed. The view from overflow won't be great, but if anyone in your party needs to be further away from crowds or noise, this might help. Then, take your time getting out.
Know that the cast members are sometimes militant in telling you where to file in and where to sit (and for good reason, they have a lot of people to usher in). If someone might prefer a particular row or section, you can either tell them directly ("I need to sit here because..."), or mill around until you can find a location you are comfortable with. Just head towards the bathrooms or concession stands until you can get a lay of the land, and then attempt to seat yourself. Personally, I like sitting at the end of a row and towards the top (away from the water, and avoiding all those stairs). If you get corralled into an area that doesn't work for you, you can generally get up and move somewhere else, if room is still available.