I be betweeen #2 and #3, but Hodges and his "Free Grace" theological platform (or lack of it) is not my cup of tea. His co-authpr of the Majority Text, Art Farstad, is more of the mindset I might get along with, if he'd let me. I've heard that he can be quite aloof. Farstad played a pretty big role in developing the (so-called) "New" King James Version. But by all means, don't think that is interchangeable with the AV. It is not, IMHO.
I will continue to use the KJV/AV as my document for daily reading, study, and memorization, and the TR and Robinson/Pierpont Byzantine Majority as the preferred resources for the Greek. Also, I use the free e-Sword Bible software almost daily.
Nothing wrong at all with this plan.