So long as you have enough travel to get stopped without the pedal bottoming out, I'd say go on some quiet roads and and bed the pads in first, simply just to save yourself repeating a step. You could go and re-bleed the brakes first...but if the pads are brand new the lack of feel for that first inch and perception you have to press harder might simply be because not enough pad material has yet transferred to the discs. Similarly, if there is some air floating about in the system I'd be tempted to go out and trigger the abs pump first just to move it through there (unless you happen to have VCDS and can trigger the pump). A non bled abs pump can be a common cause of braking sponginess.
Of course, if you feel like you are going to smash straight into a car in front of you say as the pedal and brakes are that bad....rebleed first, but know you may have to be back again for a third go round afterwards.
In summary, sounds like you've probably got a combo of air in the lines and brand new pads which could be making it feel worse than it is (if you are inexperienced as to how brand new pads on brand new rotors initially feel). Get one aspect sorted first, then the other.
