Is #4 a good idea? Seems like we comics always have the urge to say, "Wow, this is a huge pile of fail!" ...but as soon as we say that, at that point it DOES become a huge pile of fail.
I chimed in there with my .02 on it which is, basically, you should avoid dwelling on things going poorly for as long as you can. You often wind up sabotaging yourself by going negative. But at some point, I do think it's worth pointing out the elephant in the room if that elephant is a roomful of people who clearly dislike the words coming out of your mouth.