Another alternative that you did not mention is telecommuting. Ever since my office flooding int he psring of 2011 I have not had an office and have done most of my work form home. It is a challenge to stay on track with work, but I have been able to do most of my work from home.
This year I will have an office again and it is on the vike path, so I plan to combine my work commute with my exercise program and get 5 miles of bike riding in 4 days a week. Not the hybrid you mentioned but I hope I can make it happen.
My husband and a co-worker share the commuting duties by taking turns driving to and from work. Most weeks they can make it work 4 days and my husband leaves work earlier this way so it is a double positive.