Q:

Two different ways of putting the script at the bottom - what are the differences?

What are the differences between the two solutions below ?
In particular, is there a good reason to favour 2 over 1. (note: Please assume the name of the script to load is known. The question is just about if there is value in creating a minimal script to load a script in the given situation ) 
1 - Script At The Bottom
<html>
<body>
...
...
<script src='myScript.js'></script>
</body>
</html>

2 - Script at the bottom loads external script
<html>
<body>
...
...
<script>
    // minimal script to load another script
    var script = document.createElement('script');
    script.src = 'myScript.js'
    document.body.appendChild(script);
</script>
</body>
</html>

A:

One important feature of the second one is that it allows the browser to finish parsing the page immediately, without waiting for the script to load. That's because the first example allows the script to use document.write to change the parsing state around the <script> tag, while the second one doesn't.
Now, we know that it's at the bottom of the page so that there isn't any important content left to parse, but this is still an important difference. It's not until parsing is done that the browser fires the popular DOMContentLoaded event. In method 1, the event fires after the script loads and executes. In method 2, the event fires before the script starts loading.
Here are some examples. In these demos, a DOMContentLoaded listener changes the background color to yellow. We try to load a script that takes 3 seconds to load.

http://jsfiddle.net/35ccs/
http://jsfiddle.net/VtwUV/

(edit: Maybe jsfiddle wasn't the best place to host these demos. It doesn't show the result until the slow-loading script loads. Be sure to click Run again once it loads, to see what happens.)
Pick the approach that's best for your application. If you know you need the script to run before DOMContentLoaded, go with method 1. Otherwise, method 2 is pretty good in most cases.

A:

1. Script at the bottom
When you use a "synchronous" script tag, it will block the browser from rendering the page until the script is loaded and executed. This method has the following effects:

Regardless of where you put the script tag, the browser cannot fire DOMContentLoaded until the script is downloaded and executed.
Placing such a script tag at the bottom only ensures that the browsers has rendered all content before getting blocked by the script.

2. Script at the bottom loads external script
When you inject a script tag using JavaScript, it will create an "asynchronous" script tag that does not block the browser. This method has the following effects:

Regardless of where you put the JavaScript code that generates the script tag, the browser executes it as soon as it is available without blocking the page. The DOMContentLoaded fires when it should; irrespective of whether the script has downloaded/executed.

The second approach has the following advantages:

The script that injects a script tag can be placed anywhere including document head.
The script will not block the rendering.
DOMContentLoaded event does not wait for the script.

The second approach has the following disadvantages:

You cannot use document.write in such scripts. If you do, such statements might wipe the document clean.
Asynchronous execution does not mean that browser has finished parsing the page. Keep the script executes as soon as it is available clause in mind.
Execution order is not guaranteed. Example: If you load "library.js" and "use-library.js" using injected script tags, it is possible for "use-library.js" to load and execute before "library.js".

Having said all that, there is another method for loading scripts, with three variations:
<script src="myScript.js" async></script>
<script src="myScript.js" defer></script>
<script src="myScript.js" async defer></script>

Regarding Steve Souders's work: he proposed 6 techniques for loading scripts without blocking. The async and defer attributes introduced in HTML5 cover the Script DOM Element and Script Defer techniques and their browser support is more than enough for you to worry about the other techniques.

A:

These two ways of initializing a script are basically the same, although theres no reason to use the second way if you can directly put in the result. However you can wrap the second example in a $(document).ready() method for example which would lead to sort of a lazy loading effect. This basically means that the page would load first and after the loading of the page is finished it would load the script. Or of course you can create a method which initializes a certain script this way. It's useful when you have a large script which is used only in some situations. This would prevent loading it unless you need it, thus decreasing the overall loading time.

