The latter is also the strategy @Meadow 's theatrical company used for their recent wargame-based interactive play; you're on a Royal Navy ship in the Med and WW2 has just broken out, but references to King Edward and so on are a hint that this TL diverged a few years ago and you can't rely on your encyclopaedic knowledge of the OTL outbreak of war to game the system.Of course, typically, because all the players knew the actual history, at the time if you played a historical wargame, you would very quickly go off into an alternate history scenario, but that was one I remember particularly which had been set up from the start with a non-historical scenario in place alongside ones that at least started historically accurate.