It's actually #3.
Lynx looked through it, and easily saw that we're getting a CS_Assert because the PcSimpleCamera isn't in a region. Why not? I personally don't remember any of the details (if I knew them) but the CS_Assert is completely valid; our entities are currently the ones in an invalid state. In order to repair this, Lynx needs to make some CEL fixes, and the fix our code accordingly. So unfortunately you and I were barking up the wrong tree with this bug.
It should be fixed in a week... that's assuming everything goes to hell, and Lynx has absolutely no time... which is par for the course currently.