It's oddly difficult to find a really successful performance of this opera. My top recommendation by a pretty large margin is the Keilberth with Uhde and Varnay in early stereo--I have it on the Testament sounding excellent and I've heard good things about the Pristine remaster as well. Keilberth leads a taut, dramatic reading, Uhde delivers an unmatched performance in the role--tormented and riveting--so good that he's ruined other contenders for me. Varnay is a little heavy-voiced as the young Senta but is quite good--I like her better here than as Brunnhilde. Choice #1b for me would be the same principals with Knappertsbusch--the sound is better on the Keilberth, and Keilberth's dramatic and incisive style works better for this opera than Knappertsbusch's more relaxed ways.
Below the Keilberth/Uhde/Varnay and Knappertsbusch for me would be the Dorati with London and Rysanek and Bohm with Stewart and Jones. I don't think Dorati really is at his best in Wagner, but the performance hangs together, and both leads are dramatic and intense--Rysanek gives probably my favorite Senta perfomance. The Bohm with Stewart and Jones is good although a little disappointing--that cast and conductor seems like a world-beating combo but for some reason, the recording doesn't quite click as much as I'd expected. Bohm is like a different conductor in the studio, somehow. His studio recordings never seem as dramatic and intense as his live recordings.
Other good but not great recordings: The Klemperer is good, although a little plodding as is often the case with later Klemp. I like Adam in the role, but am not a huge fan of Silja as Senta. Silja is also one of the main drawbacks on the otherwise decent Sawallisch with Crass.
Hotter is an outstanding Dutchman but I only have have him with a past-her-prime Ursuleac on Krauss's 1944 recording and one of those live Met recordings with pretty rough sound with Reiner and Varnay. Between the two, I'd pick the Reiner but it'd be great to have his Dutchman in a better quality recording.
Two recordings I'd stay away from: Both Bailey and Martin on the Solti seem like they've wandered in from different operas--Bailey sounds elegant, restrained and thoughtful, utterly wrong characterization for a character that should sound tormented to the point of complete despair and insanity. The Konwitchny has an awful Senta and possibly Fischer-Dieskau's most self-deluded undertaking as the Hollander, even more miscast than his Rheingold Wotan.
ETA - Oh, I see that this is a pretty old thread and was revived to talk about Redemption endings. Most do have it--I think of all the ones I mentioned, off the top of my head, the only ones without the Redemption ending is the Konwitchny, the Sawallisch and the Klemperer. I can't say that it's ever made that huge a difference in my listening enjoyment one way or the other, but I do prefer the Redemption ending too.