Privatization would require the reorganization the Postal Service so desperately needs, provide good paying jobs in the private sector, would allow new management to cast off the burden of crazy union agreements and get this heavy anchor off the necks of drowning taxpayers.
Many of the same employees could and would be retained, yet management and rank and file could be stripped of currently nonproductive untouchable 'workers', providing, in one bold swipe, an intelligent solution to the first three options in the poll above.

Start putting in clustered Mailboxes within large subdivisions, more compact neighborhoods in the suburbs, etc. Would save a LOT on mail vehicle wear & tear. Mail truck goes by my house 3-4 times a day, but yet I don't get the mail until ~5 PM. I'm assuming its doing multiple runs in order to distribute packages first, then go to each individual household to deliver mail where boxes are barely 50 feet apart down each street. Is this really efficient? Instead have a couple clustered mailboxes in neighborhood and mail is delivered all at once to each cluster. This mailbox is less likely to be hit by snowplow, buried in winter, mail is delivered a bit faster, and mail trucks don't wear out brakes as often. Residents might also get outside a little more and see their neighbors, get some sunlight and exercise a little to get their mail. These boxes are a lot tougher and more secure than any regular box on the side of a road.

I'm all for letter carriers waklking the streets in dense neighborhoods. I lived in Albany and knew my carriers on a first name basis and it was a good thing. They really are useful there, but in the 'burbs, they drive 50 ft, stop, drive another 50 feet, stop, etc. Its murder on these vehicles for brakes, maintenance, etc. That's not efficient for the USPS and not good for a whole lot of other reasons.