re: option 1 - your 4 triggers should come about 60 degrees before BTDC for each cyl (ECU software will have a setting called 'Trigger Angle' or similar - this is how far ahead of TDC the trigger comes). ECU fires the coil for each trigger event, dizzi rotors sends spark to appropriate coil lead.
suggestion? go back to the stock dizzi - it has two or three triggers (sorry, not that up to speed on 4AGE).
build 1 or 2 of these (if you just use the 24-tooth wheel and punch off 2 opposing teeth is suitable spots then you have a 12-1 trigger wheel and that's enough data for wasted spark circuits:
you can get 5v from the MAP sensor
If you want direct fire, use the appropriate sensor from the dizzi that tells you when TDC #1 is.
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