>>>All comments highly appreciated.
>>>
>>>Alex
>>
>>3 and 4 is a typical EAV design. This design has known problems (hard to work with), but in some cases it's used. I suggest to do some reading on EAV model before starting this adventure.
>
>That is a wonderful lead, Naomi. Thank you.
>
>Alex

You're welcome. I've seen many threads in Database Design forum in MSDN discussing this topic.