And #5) Use parts from newer models to increase height adjustment to 4", such as described in this post (can't add URL yet as new member). You can see by comparing current parts to new parts how it allows for more height adjusting. Most promising option, just cost and effort involved, plus probably new wheels.
Text from the post:
Yes you can raise the mowing height for this mower to 4". You need to buy 4 parts at a cost of around $40. For the front wheels you replace the adjuster arms.
HON 42911-VL0-900 ARM R. FR. ADJUSTER
HON 42921-VL0-900 ARM L. FR. ADJUSTER
These are easy to replace.
For the rear wheels you replace the adjuster plates
HON 42990-VL0-900 PANEL R. RR.
HON 42995-VL0-900 PANEL L. RR.