Those classic muscle cars are great to look at but aren't fun to drive. Drive further than the local cruise night and you can see they aren't very enjoyable. They can't compare to new cars. That is why these cars are being restored with everything besides the body being updated to new tech. Classic looks with modern suspension, drivelines, technology, and so on.
Option 2 sounds like a lot of time and money to invest into it. Finding a done car would probably be way cheaper. But maybe you are just looking for a project to work on and make your own. Luckily, there is a TON of options for suspension and chassis upgrades for these cars.