I'd suggest Option 2 as you can build the patch loom as a diagnostic port (e.g. 4AGE ECU connector on a board that has test spots for each pin then a tail with DB37 plug) - that way you can look at the output of every sensor and driver from the one spot and not have to open up any clips or sheaths.
much like MegaScott's "Ford EEC-V to megasquirt" adaptor board.
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