Todd,
None of your possibilities make much sense for a believing mormon, so perhaps you could try to be a little more imaginative?

Let’s assume that you are right that Joseph Smith didn’t choose the words but they were given to him. Then the translation aid could have mapped a Nephite word or name to vocabulary Joseph Smith would understand. Therefore “Bible” is not necessarily Nephite terminology for the modern Bible.
Nice thoughts on the rest of your post about doing the “hard work” and accompanying faith with reason. Sounds a lot like the only canonized description of the Book of Mormon translation process.
Doctrine and Covenants
9:7-8a
7 Behold, you have not understood; you have supposed that I would give it unto you, when you took no thought save it was to ask me.
Scriptures
8 But, behold, I say unto you, that you must study it out in your mind; then you must ask me if it be right. . .
later,
fool