Of all these approaches, only the latest is really worthy of consideration IMHO, different houses, different customs.

One thing is clear, namely that things that are largely extict for any given "we" (say, culture, country, and so on) do not constitute a tradition. The kind of reactionary bullshit like reinventing things from centuries ago and somehow calling it traditionalism merely because they are old should not really be taken seriously. A tradition is something that is alive right now, so for the Western civ, it is largely things like liberal democracy, atheism and light religiosity, anti-racism and less-lethal racism.

The idea here is that the only thing truly realistic is to change what you already have, inherited things have only a certain elasticity, so you can have modified forms of liberal democracy, more or less militant atheism, a bit more serious or even lighter religiosity, a more or less stringent anti-racism and a more or less less-lethal racism. But you cannot really wander far from that sort of set.

This - the reality of only being able to modify things that already exist, and not to create anew, and modify them only to a certain extent - is what I would called a sensible traditionalism, not some kind of reactionary dreams about brining back kings.