Well just playthrough first with the 'day' option to see how it plays out, and then play it again with the 'night' option to see what happens. It only takes about 2 - 3 hours to play through the episode.
That's what's so cool about games that have replay value right?,
I've just played the demo so far and I chose the (day) option right away because I don't like being overwhelmed by mobs of any kind at all, but more so and especially at night! I.e. to me that's not Fun that's Frustrating! If I do buy and enjoy the game I'll no doubt also try the night option as well! --- This is a win,win forum i.e. you help me, you help yourself. Now we're both happy!
This may help - Instead of worrying missing things by making the "wrong" choice, try and play the game as a specific type of character, like a good guy, or a bad guy, or an *** hole, etc. Then you can just play as true to the character as possible safe in the knowledge they wouldn't made any of the other choices anyway. Then play as another type of character in another playthrough. --- UK/EU PSN: SygBoss