The problem with the 2nd approach is password restrictions (some of which, stupidly, reduce the key space rather than increase it - all uppercase required on some banks? yes it happens).
Another annoying but logical constraint is the one where sites query your pwd for references to the site itself and tell you not to include that - another strike against that appending approach.
The requirements vary, are conflicting and change over time. I tried your approach, but then gave up after repeatedly forgetting what restrictions applied for which site - altering my specific password and making it non-memorable. Enter 1Password.
Another annoying but logical constraint is the one where sites query your pwd for references to the site itself and tell you not to include that - another strike against that appending approach.
The requirements vary, are conflicting and change over time. I tried your approach, but then gave up after repeatedly forgetting what restrictions applied for which site - altering my specific password and making it non-memorable. Enter 1Password.