I didn't read the whole thread, and I don't care too, just gonna weigh in and explain my vote (Option 2).
I think hunting is a-ok as long as you use/eat whatever it is you kill. I think it is a luxury in modernized nations, it's much cheaper and less effort to buy meat from Wal-Mart or the grocery store than go out and killing it yourself.
From what I remember from my hunting safety classes I had to take when I was in middle school (almost 10 years ago), when a hunter buys a tag or purchases other things a portion of it goes to wildlife preservation. So buy spending money to hunt, your helping preserve the species and/or its environment. I don't remember the specifics, but that was what they told us in a nutshell.
Making deer jerky with my dad after he came back from Idaho hunting was one of my favorite memories of being a kid, and it tasted awesome. Oh and we even fed the eyeballs to our dog at the time (waste not want not).
I think poaching is immoral and wrong, or killing things just to have a trophy on the wall is also wrong. We have a few of my dad's deers mounted on our walls, but we also ate those deers.
So, tl:dr -
I think hunting for food is great but poaching is wrong.