I went with the big ol' Graco and got a freebie Kolcraft umbrella stroller from a promotion through Amazon. You'll find plenty of deals with the free cheapies so don't buy one of those. It really depends on your lifestyle and what you plan on doing as to whether to go for a nicer umbrella stroller or not. I love my Graco for going shopping. I was never much of a shopper before I had a baby, but now I find myself at the mall (and other activties) so much, I need my stroller to have 1)extra storage for bags (diaper bag as well as shopping) 2) a cup holder for my Starbucks... and 3) yes, the snack tray as you mentioned. I am not big on letting my son snack between meals, but the snack tray is also good for holding his sippy cup, which he does keep with him - and if you can't find a clean high chair while you are out, he can sit in the stroller and eat lunch with that tray. If you've taken a look at food court/fast food high chairs, you will understand what I mean. I do have one of those chair covers, but again, it's not convenient to take it into malls and such with you, especially without that extra storage on your stroller.
One other thing, I love that my Graco reclines completely. I rarely have my son out at nap time, but there have been times it was unavoidable, and I was able to simply recline the seat the whole way and he was able to lay down and take his nap practically undisturbed. I have even done this recently while he is a little older. He never would have been able to do that in a smaller stroller.
So basically I would say go for the bigger one, but I agree it can be a little cumbersome. I have an SUV so size isn't an issue for me, but with a smaller car it would be a pain. You just need to think about your particular lifestyle and what you plan on doing with it. Good luck. This is such an exciting time for you. Enjoythese decisions and don't stress about anything! Either kind is going to be fine in the end.