First approach is direct but with some problems. it's main problem is that filter designing in RF is complicated (e.g. 14GHz in satellite Ku band communication) because you can't reach high Q factor.
Second approach is a little complicated (two level approach) but with many advantages, First of all, is standardization. IF standard frequency are 70MHz, 140MHz, .... so a manufacturers can design a generic Upconverter, Modulator, Filter, etc. Second you can reach higher Q factor than RF.
regards