Hello,
Since we have already communicated, I will cut the things short:
I can provide you with following:
1. All the 4 options you mentioned below.
2. will use third party php library.
3. You get the option to configure the SMTP.
4. Send as many emails as allowed by your smtp server.
5. We need to discuss how to handle the bounced emails as this is something hard to track and any other developer that will contact you will face problems handling it.
Thanks and regards,
Prakhar