Thank you everyone! As I'm usually a rather impetuous person when it comes to haircuts, this time I decided to get other's opinions. My db thinks I'm absolutely crazy, but whatever!!! The general consensus here and the other places that I decided to poll have #1 as the cut to go for. Personally I'm leaning towards #2, but have decided to go with #1 or a variation of first. If I don't like it after living with it for a couple of weeks I can always go shorter. Easier to go in steps than all in one shot.
Thank you all for your kind comments, I truly do appreciate them. Deej