I picked option #2. I am primarily a meat hunter, but would not mind taking a really nice buck if it came along. 2 deer per year will feed my family, so I generally aim for that number.
I hunt on my family's land - 60 acres, and 2-3 guys hunt it each year. That doesn't sound like a lot of acreage, but the deer densities are very high in that area. We have averaged 7-8 deer per year taken off those 60 acres (since 2002) and the deer numbers are increasing if anything.
However, we don't get really nice bucks in our area. Part of it is due to diet - there is no agriculture in our area, so the deer subsist off of browse, crown vetch and acorns. Also, I suspect the proper genetics are lacking in our neck of the woods. A really nice buck for us in in the 120 - 135 range, maybe more towards the bottom of that range. We've taken maybe 2 or 3 bucks that size in 10 years. So it doesn't make a whole lot of sense in my situation to hold out for a true trophy buck - you'll be waiting til Judgement Day.
Plus, with only 60 acres, it doesn't make any sense to try any sort of quality deer management. We are surrounded by hundreds of acres of leased and private land where the locals blast anything that moves during gun season.
I actually prefer shooting either a 2.5 year old doe or a 1.5 year old buck many times - you get a decent amount of meat, but the meat is still tender.