Which one is more valuable to an investor?
I think they are the same since at the end of the day the share price ex-all-these will have to be adjusted by a similar ratio/factor.

@For Sport, very useful. The only bit you have left out is that the two halves in the split both weigh 1 kg, and the two oranges in the bonus also both weigh 1 kg, therefore in both cases you have 1 kg of oranges, which btw you had in the first place. But for physchological and 'good feel', two oranges make you feel better.