Option 2 ftw.
But you should try to stack the comps so that things that clash are as different as possible.
Running, for example, Starcraft and WC3 at the same time, and then later CS and DOD at the same time, would be fail. But CS/Starcraft together, and then DOD/WC3 together not so much.
As long as you print up a nice schedule so its easy to see what comps will overlap - this could easily be done in outlook and printed out one day to an a4 or whatever.
--------------------
|