I'm an Option 1.7 hybrid, but I voted #2, because I did set my own situation up for some stability, and probably would lean that way even if it had hurt my chasing schedule some.
I used to work in a private web firm, and had MUCH less flexibility on time. I took week long vacation blocks ending on Memorial day during that phase('05-'06 really didn't go well chasing that way).
Once I got laid off from the web firm, I worked fill in jobs for two years('07-'08) while I tried to get on at the local University. The University offered more time off, I would have medical coverage and a stable income (less income than the private sector, but it respects my free time more, so it's worth it). I had planned to just use 3 weeks every May in a block, but once I got into my job, I made myself indispensable and garnered enough respect in my department to assert my wish for the flexibility.
Since I am in I.T. and can work remotely from the road to address vital issues as needed, my supervisors are great at letting me come to them on a Wednesday afternoon and say: "I've decided that I'm heading out tonight for K.C. or O.K.C. to chase Thursday and Friday and will see you all on Monday. Call me if there are issues, try not to bug me between Noon and Dark." They usually are excited for me and just want to hear the stories and see the video/pics when I get back. I address emails each morning as needed (after I check the forecasts, satellite and surface charts, of course), and take care of any immediate tasks. This usually only eats 5 to 20 minutes of my morning, then it's on to chasing tasks!
Without family or even spousal obligations, my personal situation gives me a lot of freedom to choose setups on this hybrid plan, but can also budget easier with a stable income. Once or twice a year I get stuck not going, due to a scheduled meeting or update I can't do remotely, but I can run 80% of the setups I want to since 2009. (Pilger day of course happened to be one of those missed setups this year, ouch).