Seems like #3 would be about the easiest.
However, if you wanted to upgrade to a power steering box, kits are sold to adapt a '69 to '87
or so 2wd power box to your truck. If you went that route you could adapt your original column to the new box and would have to cut it anyway, so you could shorten it as well and keep the stock column.
Or.....maybe this could be incentive to increase your belly to steering wheel clearance without shortening the column!
