Eta: Hmmm just saw your follow up. Leaning toward 3 now, but I would make sure you set a specific schedule for the days you're in the office and maybe see if you can stagger your hours so you can miss the worst of the traffic.
I have found the people I work with have a bigger impact on my job happiness and success than anything else (Besides a strong negative like too-ling hours or a horrific commute). #1 appeals to me for that reason.