Chapeau for Creme's responce I would say. It is what they have to do and they do not let you (or actually all who are reading this) down. Option two sounds most reasonable I would say. Give them an oppertunity to make up for an earlier unpleasant experience. Moreover that CRC sent you an older model (what they say) is not what they can do much about.

That you found another bike you like meanwhile should not be drawn into the consideration officially. If it would all happen in a multiple months covering timespan okay, but that is not really the case. On the other hand: CRC already offered a full refund and that could simply be an easy way out if prefered.