I'm going to totally ignore what it is worth now or at the end of a restoration and I am also going to assume you have unlimited cash...
...I would STILL go with option 4. Do the minimum to get the car running and decent. Maintain it and then drive and enjoy it. We see lots of nicely restored cars at shows, but how many mostly original cars are out there? Once you restore it that originality is gone. I personally think it is really cool to see un-restored cars. The patina is like a badge of honor. Leave it as original as possible, patina and all!
You asked for opinions, and that is what I would do if it was my car. Most importantly though, you need to do what YOU want!
Good luck whatever you decide.
Hawk
...I would STILL go with option 4. Do the minimum to get the car running and decent. Maintain it and then drive and enjoy it. We see lots of nicely restored cars at shows, but how many mostly original cars are out there? Once you restore it that originality is gone. I personally think it is really cool to see un-restored cars. The patina is like a badge of honor. Leave it as original as possible, patina and all!
You asked for opinions, and that is what I would do if it was my car. Most importantly though, you need to do what YOU want!
Good luck whatever you decide.
Hawk