Personally, this is the sort of situation that I think is fantastic for experimentation. My recommended medium would be a chiffon cake that depends on whipped egg whites for structure. Keeping every other aspect of the batter the same, try each method, bake the cake the same way, in the same pan, and look at the crumb. Is it even, fine, loose, dense, airy? How thick is the crust? How does it feel when you bite down? Crumbly, soft, spongey, firm, dry? That's going to give you the best answer (and an excuse to eat cake.) Alternatively, or additionally, just bake 2-3 egg whites worth of meringues directly to avoid excess. Take some pictures of your experiments if you decide to perform them a few weeks apart.
Generally, this is what I've gathered for myself from various sources and/or experiments and accidents:
The longer you wait to add the sugar, the denser your final product will be. One potential issue is that the sugar might not thoroughly dissolve before you've finished whipping your meringue, leading to extra caramelization on the outside, possibly even graininess, or (depending on the use) a separation of sorts. I've had a few cakes come out with a denser layer at the bottom with a much lighter, but drier crumb higher up.
I can't precisely explain the physics, but you can overwhip egg whites into a grainy mess. That kind of curdling is caused by proteins coagulating too much together. So, the addition of sugar not only adds stability to the meringue, but inhibits the proteins from binding together quite so quickly or easily, and so helps prevent that curdling. Based on this, I think it's reasonable to assume that if you wait too long to add sugar to a meringue, some of the proteins will have already bonded too tightly together for the sugar to properly interfere. As a result, you wind up with some tighter egg protein matrix and some looser, as well as sugar syrup that's not as well distributed throughout the foam - meaning the sugar doesn't always get where it needs to be to stabilize the foam, and instead weighs it down unevenly. Not great texture-wise, and worse than that, unpredictable.
So what's the problem if you add the sugar too soon? Basically, it works too well to stabilize and inhibit the foam's formation. I've done that multiple times because I personally prefer it for chiffon cake. The sooner you start adding the sugar, the more thick and velvety smooth the meringue becomes. That can be an issue because when you bake it up, the texture is very fine. It dries out easily, and where it's not chalky, it's marshmallow-y. I've never bitten into a piece of insulation foam, but I imagine it has a similar texture to a meringue that got sugared at the beginning. Not bad, IMO, and fairly predictable, but definitely not ideal by most standards for most applications.
I've never actually tried adding the sugar to the egg whites the day before, so I can't speak to that specifically. I'd imagine it would result in an extremely fine foam, and lead to a dry or spongey final product as well - either of which might be exactly what you want for a given application.
That's the most difficult aspect of this question to completely address. French meringue can be used in multiple applications, piped and baked to dryness, broiled or torched on a pie or for baked alaska, as a last minute dairy-free sub for whipped cream, for pavlova, as the non-chemical leavening in cake, a base for a buttercream... The desirable amount of sugar and best time to add can vary by application, and more importantly by person.
I'd imagine various people swear by their own methods for their own reasons, possibly because they favor different textures, or different desserts entirely, or their mixer runs at a different speed, or their preferred bowl is a different shape, both of which could be significant. So again, I really think this is the kind of question you're best off answering through direct experimentation. There is no one best method, any more than there's one best cake.