I made option number 2 two years ago, and depending on your layout requirements, this is by far the easiest.
Option # 1 is almost impossible, since there are large parts of IViewPart functionality that cannot be delegated to parts. Just look at how common the multi-editor code is: you can find instanceof tests deep in the org.eclipse.ui code.
Option number 3 can probably be done, but only by losing the palette, since this seems to relate to the editorial material in depth (at least this is in my notes from 2 years ago :-))
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