@DavidB If you have your workpiece installed and it is fairly thick, I’d avoid #1 and #2 unless I was absolutely sure that I would not hit anything in the z direction. You’ll get an alarm for any movements exceeding the top limit of your spindle. But you’ll not get that alarm in the downward direction.
I think gSender gives you your job’s Z travel so that you can calculate your clearances. You can also set soft limits and gSender to limit the travel. I do this when I use long roughing bits. They could potentially plow into the spoil board and even the aluminum cross rails if you’re not careful. It goes without saying, always have the e-Stop button close by.