Using myself as an exaple, I began by researching Timex history. that lead me to this site where I found a wealth of knowledge. All coming from those with varying degrees of sucessful repairs learned over a period of time. Like the them I have become better at repairs and yet will always consider myself as no more than a hobbyist. Yet it is my goal to continue to learn and improve my techniques.
So I say start at where you are comfortable and always keep the door open for knowledge. Oh and BTW, Option #4 is the 5lbs hammer!