I am in the exact same boat. I submitted a new app on Jan 25, and it is still stuck in "Waiting for Review".
I reached out to Apple Support on Jan 30 and followed up on Feb 5. I finally received a reply yesterday (Feb 10) that might help you decide.
They explicitly warned against rejecting and resubmitting:
"When you reject and resubmit your binary, your expected review time will once again be 24 hours. We realize that there are circumstances which make it necessary to reject and then resubmit your binary, but doing so affects your overall review time."
The email states that resubmitting resets the expected review time to "24 hours." If resubmitting actually guaranteed a 24-hour turnaround, I’d do it in a heartbeat! But I don't think we can trust that number right now.
So, sticking with Option 1 seems like the safest bet. Good luck!
Topic:
App Store Distribution & Marketing
SubTopic:
App Review