Walls and Ceilings - Need advice on bedroom

I have a bedroom which has had paneling on the walls for at least 18 years. The paneling is ripped and rotted so it has been torn down. On the walls, there is much glue left from the paneling. I have a few options.

1 - Try to repair the walls with spackle, tape, and sanding and then paint. This may be hard to make walls prime for painting.

2 - Put beaded paneling which is ready to be painted over the sheetrock. Though the walls have glue, the sheetrock is solid.

3 - Put 3/8 sheetrock over the existing sheetrock, spackle, tape, and sand, and then paint.

4 - Replace old with new sheetrock, spackle, tape, sand, and then paint.

If you had this choice which options would you consider and which would you stay away from?

Thanks.

I would go with 1 or 2. To paint existing sheetrock, try scrubbing the walls with paint thinner. This may loosen and remove the glue. Then patch and skim coat as necessary. Fixing the rock would involve a lot less work than replacing it. Also if you hang rock over top of it you will have to put extension boxes on the elec outlets and your woodwork would have to be dealt with. hope this helps :)

I had this exact problem. After paneling removal the wall looked like this:
http://www.impulse.net/~dmaxwell/drywall.jpg

I contracted with a drywall installer on the side to fix this wall. He putty filled with three coats over the entire surface and textured with an orange peel finish. Cost $325. Here is a finish picture of the wall:
http://www.impulse.net/~dmaxwell/drywall2.jpg