3. A modified/extended version of Pascal's wager. In other words, it is safer to accept Jesus as the Son of God and be wrong than it is to reject Him and be wrong.
Pascal's Wager doesn't really work in Christianity because it is a faith based religion, not a works based religion.
Most non-Protestant churches aren't Sola fide
That's a matter of emphasis more than anything else. Indeed, quite a few Protestants really need to read James 2:14-26. Faith without works is dead. Luther was reacting to the deviation from the proper balance between faith and works that had gone too far in the direction of works in the Roman Church, but it really ought to be
prima fide, not
sola fide.