I actually had this conversation with JP sometime back and he convinced me #1 was not the right solution.
The reason is that the clearances have different purposes. The copper-to-copper clearance is for electrical isolation, so the corner of the zone can be radiused so that the clearance distance is kept constant.
The mask-to-pad margin is to allow for registration errors. Since they occur along either the X or Y axis, you cannot round the corner and still have the same error tolerance.
#2, I believe, is still a runner…