You've pretty much enumerated all the sensible options in your question, so I don't know that there's anything else. What I've seen sometimes (IIRC) is to put a comma after each case, and then I guess the period could go at the end of the last one.
Without an image of exactly how you want this typeset it is difficult to know for sure, but perhaps one of these is what you are looking for:
or perhaps:
\documentclass{book}
\usepackage{amsmath}
\newcommand{\fib}{\mathrm{fib}}
\begin{document}
\begin{align*}
&\text{if } x < 2 & \fib X &= 1 \\
&\text{otherwise } & \fib X &= (\fib (X - 1)) + (\fib (X - 2))
\end{align*}
Another option is:
\begin{align*}
\fib X = \begin{cases}
\text{if } x < 2 & = 1 \\
\text{otherwise } & = (\fib (X - 1)) + (\fib (X - 2))
\end{cases}
\end{align*}
\end{document}
Here is how you can modify the given MWE to obtain better spacing:
Notes:
Code:
\documentclass{article}
\usepackage{amsmath}
\newcommand{\prodtime}{\operatorname{prodtime}}
\begin{document}
\[
\begin{array}{l l @{}l}
\prodtime V & X = Y &{}= 0 \\
\prodtime V & X = f(\ldots) &{}= 0 \\
\prodtime V & p(X_1,\,\ldots,\,X_n) &{}= \prodtime V\,(\operatorname{body} p) \\
\prodtime V & V = \,f(X_1,\,\ldots,\,X_n) &{}= \prodtime V\,(\operatorname{body} f) \\
\prodtime V & X_0(X_1,\,\ldots,\,X_n) &{}= \mathit{time\_of\_call} \\
\prodtime V & m(X_1,\,\ldots,\,X_n) &{}= \mathit{time\_of\_call} \\
\prodtime V & \mathit{foreign}(\ldots) &{}= 0 \\
\prodtime V & G_\mathrm{head},\,G_\mathrm{tail}
\end{array}
\]
\end{document}
Best Answer
The version of parentheses for probability is not obvious. A suggestion (one displaymath in
\[
...\]
):