It really depends what your goals are... if you want to be the best runner you can be, then the more you run the better - but at the same time cross training (cycling, swimming etc) will also be beneficial to your overall fitness, which will still help your running, but will decrease the risk of an overuse injury.
As for AM vs PM... again it's personal preference - the muscles will naturally tend to be a little less flexible in the morning (as they've been inactive all night) but in terms of one being more effective than the other, there's no difference that I know of, and certainly not enough of a difference to worry about. By the time you become a pro international athlete you'll be running am & pm anyway
