IMO, a profiled work flow and none of the above. I do not like the ABW mode as it makes changes you cannot control or nicely predict. Once I got custom profiles for the papers I use I have no trouble getting perfectly neutral B&W results every bit as good as ABW in outright quality and a lot more predictable (not just in tone, but also contrast). If I want to add tone, I do so in LR and have infinitely more control than in ABW mode. This means I can produce far better prints than I could in ABW.
Personally, I think ABW is a neat short cut for people who do not understand B&W well, but no substitute whatsoever for doing things yourself.