Ask HN: Best Business Model for an App?

I am trying to choose how to monetize a mobile application. I don't want an off-topic discussion of the actual app, so I'll describe it as something people would use for an hour or so a few times a week. The underlying data changes periodically, so there would be need/opportunity for updates.

There are three options:

1) Ads. I basically hate mobile ads. I've never clicked on one on purpose. They clutter up the screen and annoy people. I would never chose this option, unless it was a last resort.

2) One time fee. Put the app in the store and charge a fixed price, lets say $4.99. The app is self-contained with all the data downloaded as part of the app. Once a year a new version of the app could be released with the updated database. I'm not sure if app stores support upgrade pricing or if users would have to buy the full app again.

3) Subscription model. Sell the app for a nominal amount ($.99) or give it away free, but require a monthly subscription to use the app. This is probably done with an in-app purchase. In this case the database is online and the users must connect to it have any functionality.

As for the pros and cons, with option two I like that it's a passive model. There are no ongoing obligations. If it's profitable then an updated version can be released with updated data, if not then it can just be left alone. One downside is that shipping the database with the app makes it more vulnerable to copying.

With number three I like the ongoing revenue from subscriptions. However the downside is that maintaining the online service and database is time consuming and it's an added expense.

Which option would you choose?