IMHO, option 2 is the easiest. Like posted above, you can do it in a couple hours. I prefer the original Z-bar because the cable kits route all over the engine compartment.
1. You will need a different clutch as its hydraulic, and the fulcrum is backwards(I think)
2. May need the drive shaft shortened, mine cost $75.
3. Never heard of anyone doing that.
2 is defintly the easiest if your doing it in the car. I'll be doing it outside the car on a freshly rebuilt engine. the bellhousing I have came with the trans.
