What's the difference & best practice

I'm wondering the following scenario which is best to go and what's the difference.

1. Install Windows Server 2012 on VM (Hyper-V Server 2012) and create nodes / instances from Hyper-V Server. 

2. Install Windows Server standalone and use the Hyper-V inside for other virtualisation purpose.

I do notice that if I go with scenario number 1, the nodes (VMs) installed on Hyper-V does not detect / support USB printer / ext HDD. Is this correct? or is there driver supporting this? 

Also, what are the difference between using Hyper-V Server to create the VMs or create the VMs in Windows Server as the host machine?

Thank you.