Whenever I have an equation that does not fit on a single line, I am using \begin{equation}\begin{split}...\end{split}\end{equation} as recommended in the AMS math guide. This gives me an equation number centered vertically over the whole block. Fine.
However, what is the best practice when such a split equation is part of a larger alignment block?
Is it still OK to use
Variant A
\begin{align} \text{First} & = \text{line} \\ \begin{split} & = \text{Second line \textellipsis} \\ & \phantom{{}={}} \text{\textellipsis continued} \end{split} \end{align},
or better: Variant B
\begin{align} \text{First} & = \text{line} \\ & = \text{Second line \textellipsis} \notag \\ & \phantom{{}={}} \text{\textellipsis continued} \end{align},
or even: Variant C
\begin{align} \text{First} & = \text{line} \\ & = \text{Second line \textellipsis} \\ & \phantom{{}={}} \text{\textellipsis continued} \notag \end{align}?
What if the split equation contains three lines, and the vertically centered equation number pretty much aligns with the second line of the split equation in Variant A:

If you prefer Variants B or C, should the
splitenvironment be avoided (viamultline, say) in the single equation case, too, for the sake of consistency?
I know this is more of a typography question, but since it is math typography, I feel it is better asked here.

\usepackage[tbtags]{amsmath}will put the tag of a split equation at the bottom (if equation numbers are to the right) or the top (if equation numbers are to the left). – Aditya Dec 17 '12 at 5:01