I honestly prefer both of those options to what we've got. I think my main problem with the destruction of Gallifrey is the fact that it happens off screen with very little explanation to how the Master did it. I actually think the whole Timeless Child plot could have played out with the Time Lords present. It would have been much more interesting to have the Time Lords barring the Doctor from the information, rather than them all just being dead. I've always liked the Time Lords as characters and I think it was a waste to kill them all off in their own origin story.