For most trekkers the 3D2N summit and lake trek is the better experience, and the 2D1N trek is worth it only for a narrow type of hiker. The two-day summit program is a summit-only product: day one walks 6 to 7 hours from Sembalun village up to Plawangan Sembalun at about 2,639 meters, and day two is a punishing 12 to 13 hour round trip that covers the predawn summit push and the full descent back to Sembalun. You stand on the 3,726 meter peak, but you never see Segara Anak from the shore, never soak in the hot springs, and never look into the caldera from the Senaru side.
The 3D2N version redistributes the same effort into a shape a human body can absorb. A typical Sembalun-to-Torean circuit camps night one on the Sembalun rim, climbs to the summit before dawn on day two, descends about 3.4 kilometers to the lake shore for the second camp, and walks out through the green Torean valley on day three. That covers all four headline goals: the summit, the crater lake, the hot springs, and the valley exit.
What the two-day format actually saves is one night and one meal, and what it costs is the entire lake experience plus a recovery-free second day. After summiting around sunrise you still have the whole upper mountain, the savanna, and the village walk below you, and most of that descent happens in the heat of the day on legs that just climbed 1,087 vertical meters in the dark. Strong hikers in good training manage it and remember it fondly. Average-fit trekkers arrive in Sembalun exhausted, and the trip becomes a blur of scree and dust.
There is also a viewing difference people rarely appreciate before booking. From the Sembalun rim camp you look east over the savanna you climbed, and the lake appears only briefly on the summit push. The lake-and-volcano panorama that made Rinjani famous is seen properly from the Senaru rim or from the shore itself, and neither of those exists on a 2D1N Sembalun return.
Our advice after years of running both programs: take the 3D2N if you want the mountain rather than just the altitude number. Reserve the 2D1N for fit hikers with limited time who honestly only want the summit, and who accept the trade-offs we spell out before they pay.

