Have always been Option B.
Once or twice I did powder and put milk in afterward, but never really made it my primary method.
The equal amounts of chocolate will make it better for me in terms of taste.
Of course, I also add Equal to the mixture and cut back on the syrup. The syrup adds a chocolate taste, while the equal gives it sweetness.
Sure there's that whole "But it gives you cancer!!!111" thing, but as I recall, that's still not entirely proven - it was done with mice and as I recall, the human equivalent would be liters upon liters of soda a day!