Merge One Direction or Both?

Folks ...

I have a situation that seems fairly typical:

    branch 'live' could be called the trunk, it's the live code and I
    make small bug fixes and revisions here, committed each time I
    am ready to update the site (it's a web project)

    branch 'dev' is where I do major development work on new features

When I complete some work in dev I have a couple of options:

(1) Merge changes from live into dev first so that dev picks up the bug
fixes. Then merge from dev back to live to update the trunk with the
new features. Will this work? How would I choose which revisions to
merge for the second merge?

(2) Use svn diff to find the changes in the live branch that are not
yet in dev and make them manually, then merge changes only one way,
from dev to live.

(3) Merge from dev to live then delete the dev WC and get a new one off
the live branch as the base for future development.

Any tips here?

#3 seems like the cleanest approach but it is complicated by the fact
that I have bunch of unversioned stuff in the dev deirectories that I
wouldn't want to lose, so I can't just delete the WC and do another
checkout. Is there any way to remove all the versioned files from a
directory tree, leaving only what is unversioned?

Thanks,

--
Tom
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