New "Hardwood" Floor Layout
I'd vote #4 = fewest cuts, least amount of labor, least amount of waste. It's also see as the 'default' as most argue that floors look best when laid in the direction parallel to widest walls. 

For real hardwood, the general rule of thumb is to lay it perpendicular to the floor joists. This is to add strength. It probably adds a little strength to laminate flooring, but not sure it's enough to worry about.

But, at the end of the day, it's a personal opinion thing. Go with what you like.

As for the transition piece, you may need it, but engineered laminates are pretty stable. They don't expand and contract a whole lot. You might be able to get by with merely leaving a 1/8" gap or so and caulk it with matching caulk.