Got Accepted to 2 festival - "premiere status" will cause me to have to choose! Help!

Got Accepted to 2 festivals - "premiere status" will cause me to have to choose!

So, here's the deal, and bear with me as I try to explain.

I got accepted into two really incredible film festivals, like REALLY incredible, both of which have excellent reputations in the global film community. The problem is, one wants my film to have it's "state" premiere" at their festival.

The first festival is apart of a larger one, and I fear if we pull out from their off-location screening, they might pull us from the main program or worst, be pissed at us and never screen another film I submit again. I'm closer with the staff at this festival and have developed a good relationship with this festival over the years.

The second festival is more "boutique" and smaller, BUT IMHO, carries a little more prestige. Everyone who's everyone attends it - including major hollywood stars, the co-founder of Slamdance has attended in the past as well as major indie publications like indiewire, etc.

Now here's where it gets tricky;

Pros and Cons of Festival 1 - based on my geography, screening at festival one gives me an "international screening" status and the ability to get more funds for marketing and well as generate more sales, but I sacrifice loosing making very important industry connections that are so important for a budding filmmaker.

Pros and Cons of Festival 2 - I get a chance to meet and possibly be featured by a lot of powerful voices in a lot of prestigious publications, walk the red carpet with stars, but on the flip side tarnish my relationship with the festival that gave me my start and piss off a lot of people in the process. That added to getting banned from the festival for life; and most importantly, the loss of a LOT of revenue through sales of merchandise.

:( Maaaaan, who ever thought getting ACCEPTED to a film festival could cause so much confusion lol.

Help please! What would you do?
 
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