Number 2, but with white T-molding would be my suggestion.
And alot of people get all weird about changing classic cabinets into modern machines. My personal opinion is that as long as you don't do any cutting on it outside of the control panel, it could always be converted back, especially when the sideart is already gone off the one you have, so I don't see the big deal. Otherwise you'd have to go out and buy a Centepede CP, boards, wiring harness, sideart, and marquee.