option 2.
1.5mm of cog spacers should'nt be a problem (you can use BB spacers), just make sure the lockring still threads on nicely. http://www.velosolo.co.uk/shoptrack.html
(ED: I've got 2x1mm spacers on my fixed, and the lockring still does enough turns)
Don't forget the 0.01mm inverse spacer to take it down to 1.49mm
Don't forget the 0.01mm inverse spacer to take it down to 1.49mm