The dot product angle formula
 )
is more useful in most cases,
as the

one applies to vectors with horizontal/vertical components, also only i and j components. (eg 3i+5j)
The freedom of the dot product angle formula allows the angle between 3D vectors to be solved. (eg. 3i+5j+2k)
Your best bet is to stick with the dot product angle formula.

is usually used in complex numbers (Real and Im axes), and usually doesn't apply to vectors.
Also for the 90/180 degrees thing, its mainly the context that matters.
If a question asks for an acute angle between, say, the diagonals of a parallelogram, the

formula may help if you find yourself solving for the obtuse angle.
Yes visualising/drawing a rough sketch will help in determining whether or not you would need to subtract such angles, however as vectors don't need to take into account the origin (free floating, starting point doesn't matter), the dot product angle formula is pretty full proof.