You are right about MEP @Sandgirl . If you want to achieve 2nd scenario, sounds like you may need some BGP config done, because if one VPN was to fail, unless routes match 100%, other one would never take over.
My colleague and I actually have call today with Azure support for similar question one of our customers had, as there are few things to consider. In this case, its related to xpress route, so say if prefix is the same, then xpress route is always preferred over VPN, but if say you have /24 over /23 prefix, bigger number prefix will always take presedence.
As fas as 2 VPN tunnels, your case might be a bit different though...
Andy