Scaling objects vs Camera Position?

I would reduce vert counts on objects and move the camera back.

This way it looks the same, more view, and renders just as fast.

Since every designer has their own ideas about how everything should look, you''re probably best off trying to come up with at least an approximation of how everything will be gamewise, and decide yourself on the proper object size, camera position and viewport field of view. Experiment and stick with what feels right.