Option 1 is more the way to go - other than mining your own bit coin, you also get a nice rig out of it. In addition you can sell the cards out later and still get money out of it...
Good point, the fact that you will get a good computer out of the deal should be considered in the profitability.
So it sounds like the consensus if that the value of the Bitcoin will rise in the future. Are there any articles someone could link me to that would back up this theory, and possibly include some future price speculation?