Chris09:
Number 2 is my pick as well, but only if you are planning to do interval sprints.
If you are planning to do long duration
moderate pace jogging, you're going to short-circuit your
weight training benefits. Are you going to alternate your program every other week so that you hit the lower body twice the next week, and the upper only once, or is you plan to always do upper body twice, and lower body once?
If you do go with option #2, perhaps you might want to consider spreading the workout out over those days so you work each body part once a week, instead of 3.
An example might be:
mon: chest, triceps
tues: calves and abs
wed: lats, traps, biceps
thurs: quads and hamstrings
friday: shoulders, forearms
It still follows the upper/lower pattern you wantend, but allows you to work harder on each muscle group in less time, while still allowing adequate recovery time.
BTW, Steve:
I do my cardio 3 days a week, even right after a leg day. It's tough, but the results are worth it, IMO.