Lagoon 100% definition

Alright, I'll try to make this brief.  I really want to run Lagoon again but I am fully satisfied with my any% time, so I'm considering looking into 100% next.  Lagoon is a bit of a strange game for 100%, though, because the inventory is so limited that it is tempting to include "all items" as the definition.  So far, I see three options:

1. All equipment (20 pieces, half of which are never collected in any%)
2. Every item collected at some point (all equipment, plus the 3 consumable items that you skip in any%)
3. All items required at the end of the game (i.e., must have full inventory before final boss)

Option 1 is straightforward.  Option 2 would require that you get every item at some point, but would allow you to consume them to speed up the game (and would mean you don't have to recollect an item if you use it).  Option 3 would require that you have a full inventory at the end of the game (or, really just at some point), which would unfortunately mean recollecting consumables you use.

To me, it seems strange to require consumable non-unique items in a 100% definition.  Requiring those puts you in a weird spot, too, since one of those must be consumed as a plot element; would I be required to buy another one afterwards and just have it sit in my inventory, or is the requirement met since I had it at some point?  On the other hand, part of me also feels strange about ignoring some of the very very few items in this game just because they can be recollected and are consumable.

The main reason I'd like some more opinions on this is because, of the consumables you skip, one of them can only be purchased and costs 10,000 gold.  This item alone requires about 40 minutes of grinding/backtracking.  It really kills the momentum of the run, and kills all the challenge of everything that comes after it because you play several levels higher than normal.  I'll happily do it if the category requires it, but I'd like some other opinions before I do any routing.