I'm not an expert by any means, but.....I chose option 2 for myself. In fact, I've been following Popular HotRodding magazines Street Sweeper Chevelle series and I contacted the guy who installed the sump for their gas tank story. He can supply the whole kit to run with a mechanical fuel pump and -8 hose (1/2") system.
A lot of people here are much more knowlegable about this stuff than I am, and I usually don't answer this type of thread, but I really like the functionablity of a stock tank with the "coolness" of the sump look. Ultimately it's your car and you will have to make the decision. Good luck. :beers: