Using Ripple as a Front End for Accepting Bitcoin

[Snowfire]

I assume there are two ways to do this:

1) Have payer send Bitstamp (or comparable) BTC IOUs to your Ripple address; or

2) Have payer send BTC IOUs from his Ripple address to your Bitstamp address, where they actualize as real BTC.

Am I missing any possibilities? Which one of these strategies is faster or better?