I like the 1st pic, in a 3/4 format. Taking a cue from Alex's points, the simple textured background makes a wonderful backdrop for the couple. What made me incline towards the 1st photo, is the lively pose connecting (literally!) the couple. I think that's very important to me when it comes to displaying couples in love.
Thanks to all of you for your input. I too agree that the first one would work well. I always strive to have my portraits become a "stand alone" piece rather than just trying to capture a likeness. I think from all the reasons already mentioned that this reference photo will accomplish that. This photo was also the one the couple chose. I then had them read your comments and they were thrilled.
Thanks again and I will post progressions of the painting as it get's underway!