Doc,
Bad luck - still you aren't missing much flying with all this crappy weather. Saying that, Sunday is supposed to be rather nice.
How much life is left in the engine - when would you expect to have to replace it anyway, prop strikes excepted? What has been done after the previous 4 strikes?
Could you do (a) and go for a re-build to zero time the engine? Would there be much saving over (b)?
BTW, if you choose (c) I will never fly with you again
SD
A little knowledge is a dangerous thing...
A lot of knowledge can be truly devastating!