I like third most of the time, mainly because I don't completely freak the forget out when I see somebody shooting me from behind, and yes, this happens a lot.
But, this is for fast-paced shooters and horror games. If it's for a game like blockland and more relaxed shooters like uh, what's it called, that mix of tower defense and shooter game on steam, I prefer first. Helps me to know where my shots will land, if they land at all.