Formalism v. Realism

Ok, imagine you're in a courtroom facing ten years in the slammer. Federal prison style. The judge addresses you and gives you the option to select one of two standards under which he may judge the facts of your case.

The first standard arises from legal formalism, a theory predicated upon concrete rules of law, otherwise know as "bright line" rules. Under this standard the facts of your case will be applied against a concrete rule. If your actions transgressed the rule, your sexual security as you know it is gone.

The second standard arises from legal realism, a theory predicated upon accompanying circumstances. Realists typically plug facts into a "test" that weighs and considers the totality of circumstances and renders judgements therefrom.

Be careful, the first rule appears stringent and cold, but at least you know where you stand. The Second seems more forgiving and fair, but provides for uncomfortable wiggle-room on which you don't want to gamble.

Well, what is it?