There should be a third option "do not know". This was important maybe 10 years ago. Today IDE is handling formatting for me, and I no longer remember what the default settings are. The same about encoding or EOL chars.
It's important today too, depending on details of the dev process. The IDE or editor handles formatting, sure. Different ones do it differently though, and keeping things consistent between environments often requires some reconfiguration of the software (or automated converters on checkin/checkout, if you want to go that far...)