Is possible to add post-formats to custom-post-type?

For those coming here because of the title of the question:

If you have a look at Post Formats at the Codex you’ll see that

[…] New formats cannot be introduced by themes or even plugins. […]

Which kills you’re option 2.

Also have a look at this: Custom Post Formats

For your apparent actual question:
It really depends on how much they differ. But if they have different taxonomies and different data fields I’d say have separate post types.

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