I'm a native Californian, have lived here all my life. I think your second itinerary is the better of the two. I'd leave Santa Barbara and south for another trip.
SF-California Academy of Sciences, the de Young, Alcatraz, Walt Disney Family Museum, the Exploratorium (more for kids but it can be a blast are all entertaining and educational. For plain, old sightseeing; Coit Tower, walking or biking across the GG Bridge, Pier 39 or Fisherman's Wharf (touristy), Lombard St, the farmer's market at the Ferry Bldg. Offbeat; the wave organ near the Yacht Club, the SF Columbarium, the Musee Mechanique. Seriously, you could spend a month in SF and not see it all.
Pacific Grove- Monterey Bay Aquarium, 17 Mile Drive, Pebble Beach for lunch or drinks, Carmel-by-the-Sea for shops
Big Sur-many beautiful hikes (not a hiker myself, but DH says so)
Pismo is fun & has cute shops. I'd use it for a relaxing 'beach days' mid-point since you'll want to do a lot of hiking in Big Sur.
Sequoia and Yosemite are both beautiful, but you do need to make reservations early. Be sure you make any 'in park' reservations via the National Parks websites or their concessionaires rather than through a third party (unless you have a trusted one). Those parks are so popular that there can be a brisk business in bogus campsite and hotel reservations 'for sale' on places like Craigs List.
Gold Country-Columbia is worth a visit and there are some cute towns along Hwy 49. Most of them have a few nice hotels/motels and usually an 'old downtown' with antique, curio, and souvenir shops. I like Angels Camp (home of the Calaveras Co Frog Jumping Contest, if you're familiar with the Mark Twain story) and Sutter Creek.
If you end up nearby, consider spending your extra night in Sacramento, our state capital. Plenty to do and see and since you'll be there during the season you can catch a Rivercats baseball game for about 1/3 what you'd pay to see the SF Giants. Sacramento is about a 2 1/2 or 3 hour drive to SF Airport, if you're flying home from there.
Have a wonderful trip!