'using' statement vs 'try finally'

I definitely prefer the second method. It is more concise at the point of usage, and less error prone.

In the first case someone editing the code has to be careful not to insert anything between the Acquire(Read|Write)Lock call and the try.

(Using a read/write lock on individual properties like this is usually overkill though. They are best applied at a much higher level. A simple lock will often suffice here since the possibility of contention is presumably very small given the time the lock is held for, and acquiring a read/write lock is a more expensive operation than a simple lock).

From MSDN, using Statement (C# Reference)

The using statement ensures that Dispose is called even if an exception occurs while you are calling methods on the object. You can achieve the same result by putting the object inside a try block and then calling Dispose in a finally block; in fact, this is how the using statement is translated by the compiler. The code example earlier expands to the following code at compile time (note the extra curly braces to create the limited scope for the object):

{
  Font font1 = new Font("Arial", 10.0f);
  try
  {
    byte charset = font1.GdiCharSet;
  }
  finally
  {
    if (font1 != null)
      ((IDisposable)font1).Dispose();
  }
}

So basically, it is the same code but with a nice automatic null-checks and an extra scope for your variable. The documentation also states that it "ensures the correct use of IDisposable object" so you might as well gets even better framework support for any obscure cases in the future.

So go with option 2.

Having the variable inside a scope that ends immediately after it's no longer needed is also a plus.