OK, a first stab at an answer:
1:
Which of the following actions provide more drag during level flight
I would go for the gear everytime, without question.
2:
Situation:
You have to land and you need to burn fuel, because you are near the MLW. You are NOT in an emergency situation.
Action:
Maintain a flight level with speed brakes up, some degree of flaps down and high N1, in order to obtain a high fuel flow value.
See 1: Greater drag as a single action is achieved with gear. Therefore to combine gear with your other actions will result in an even quicker fuel burn off and hence landing.