Yes, it looks as though the patch is out, so the point is moot. Option 3 is way ahead anyway, partly because of the release of the patch.
I will install Warlords, update it with the patch, and play a game or two on Monarch level to gauge the new game elements. If I find the improved AI is really kicking my butt, we may drop a level to Prince for this game.
In the meantime, I will start the pre-game thread soon. Watch for it in the Strategy forum.