Definitely the first one - with the 'Alfa Romeo' script badge removed and placed on the back of my 164 - just put in a bubble-wrap envelope and post to Alex Shepherd, 28 Sarindah Place, Hamilton, New Zealand... 
Our cars did not come with the Alfa Romeo script badge. On the left side we have '164 3.0V6'. I quite like your de-badged look. Had you thought of placing the badges in the 'dead' area under the tail-lights, left and right?
-Alex
Our cars did not come with the Alfa Romeo script badge. On the left side we have '164 3.0V6'. I quite like your de-badged look. Had you thought of placing the badges in the 'dead' area under the tail-lights, left and right?
-Alex