I climbed this before and after the hold broke off, and when I first did it (? 1976) 5.8 was the limit of my ability, and I would not have done anything of that grade that was poorly protected (Your options 2 and 3), so probably option # 1 is the true line of ascent. Now that the route is 5.11 and the difficult climbing is so clearly finished after the crux, no one ever goes much higher and lichen has reclaimed the rock.