Something to think about in that third proposal....
There is a chance the top ten picks could end up like this:
#1 pick: Some team outside the bottom 5
#2: Some team outside the bottom 5
#3: Some team outside the bottom 5
#4: Some team outside the bottom 5
#5: Some team outside the bottom 5
#6: Team with 5th worst record
#7: Team with 4th worst record
#8: Team with 3rd worst record
#9: Team with 2nd worst record
#10: Team with the worst record.
Ugh. That would be disasterous for that team with the worst record. Luckily the chances of that has to be in the billions to 1. Which of course, knowing the NBA, would mean it would happen the third year after it goes into effect.