All the above... That's what makes it fun... You can do different things, and like in real basketball, your shooting motions will depend on the kind of shot you're taking. Run plays...use screens...get guys spacing...know what and where each guy does best. This is not a child-like deal where it's about button mashing... It takes a bit of skill, and 2K11 captures this well...
I'd suggest doing some practice stuff and experiment with the controls based upon the different types of shots your taking...