Well if number 4 is called for, I won't argue against it. But don't ask me to live that approach!
I'm still thinking on number 3. Instead of cutting and welding the actual steering column can you simply cut a couple inches off the steering wheel end, and modify the end to take the wheel?
I don't know if its possible, and don't have one far enough apart to check that option, but I'd sure want to look into it before cutting and welding the column.