Lesson about the time signature in Smoke And Mirrors, Agnes Obel, piano

A dot increases duration by one half:

Writing Smoke and Mirrors this way, is not really correct, although you can hardly hear the difference:

The left hand sounds as: 12 12 12 in stead of 123 123 or tara tara tara in stead of tarara tarara

So this is better:

Or 3/4 this way:

Which is best? I prefer 3/4. A waltz as this one mostly gets 3/4. 3/8 is too fast for a waltz. Beethovens Fur Elise is a typical 3/8. It's not a waltz, but a piece with a compound meter and one beat.