I'm still deciding between options two and three, as I think that both are more or less equally applicable. If I knew that there was a clearly better coach out there, I might give option four some serious consideration, but none of the big name guys (Stoops, Meyer, Pelini, Saban, etc.) have anything over Tressel, and with anybody else, you're getting an unknown commodity - maybe you get the next Tressel or Meyer, maybe you get the next Charlie Weis....
I really don't think that JT will win another NC for many reasons - his age, his coaching style, the academic/character restrictions in place at Ohio State (largely implemented by JT himself), and the luck factor involved. Look back at 2002 for a minute. We all remember Holy Buckeye and the PI call, but there were at least ten, perhaps as many as fifteen, game-changing plays that year.
01. Cincinnati - dropped pass in endzone with :48 left in game (UC down by 4)
02. Cincinnati - second dropped pass in endzone with :37 left in game (UC down by 4)
03. Cincinnati - interception in endzone with :32 left in game (UC down by 4)
04. Wisconsin - interception in endzone with 7:09 left in game (UW down by 5)
05. Penn State - Gamble pick six (only TD; game-winning score)
06. Purdue - Holy Buckeye (only TD; game-winning score)
07. Purdue - interception at Ohio State 11-yard line with :51 left in game (Purdue down by 4)
08. Illinois - dropped pass in endzone in OT (Illinois down by 7)
09. Michigan - sack and strip with 2:02 left in game (UM down by 5)
10. Michigan - interception at goal line as time expired (UM down by 5)
11. Miami - 4th-and-14 (kept drive alive in first OT)
12. Miami - the PI call (kept drive alive in first OT)
13. Miami - Krenzel's TD in first OT (tied game)
14. Miami - Clarett's TD (game-winning score)
15. Miami - goal line stand in second OT (Miami down by 7)
Ohio State rolled "seven" on each of those fifteen plays; what are the odds of that happening? If the Buckeyes fail to make even one of those fifteen plays, then they very likely would not have won the NC in 2002; if they go 60-40 on those plays, then they probably lose three or four games. Even a great team needs a little bit of luck, but the Buckeyes had an inordinate amount in 2002. I doubt that we'll ever see a charmed team like that again.
Given that JT will not get another incredible string of luck, I just don't see him being able to win another NC with his coaching style. He doesn't have a cohesive offensive vision, he doesn't use his offense to attack the opposing defenses, and he has struggled to develop a ball-control passing attack. Also, for whatever reason, the line play on both sides of the ball has been suspect from 2004 to the present - maybe that has something to do with passivity as well.