I know from a few mates that many people are going for option (2) at an early stage in their careers. The 1000hrs P1C can be hard to acheive on some aircraft types for the military accreditation scheme. Not that I think the criteria is too high, but I`d hate to leave it hoping for my 2000hrs and get posted for my last tour to a ground job and miss out on it all.
ELC is great if you managed to register on it in time. Those that didn't are kicking themselves now. 80% of the course fees paid makes the ATPL exams a bit more affordable.