I recommend this book, unfortunately only in portuguese:
http://www.lojaclassicos.com.br/detalhe ... 2-4&cat=03
A new amazing research with a lot of new material and conclusions on VL works for guitar. Including, for example, letters between Segovia and VL where the former asks questions about etudes he didn't record, or some of his South American recital programs including several of etudes he later on probably never played again.
Main conclusion in first etude is that Eschig with repetition is final VL version. Actually complete Eschig etudes is probably his final version, despite misprints etc. The subject is complex, you have to read the book...
I also never saw a reason for Carlevaro to lie or make up his comments on VL. He was a very correct person. He might have forgotten something, but the repetition stuff would be too important to forget, I think. Carlevaro recorded the eutde 1 with the echo effect (you find at youtube).
About the question, I do all 1-2. You need some jumps anyways and the final 1-2 >> start chord, you can do a little tricky "rallentando", it even sounds nice musically. Carlevaro recommends using some open strings to make jumps easier, but I think it is difficult to keep the slur articulation feeling and IMO it compromises the intended result. On the speed, I think it should be at least 120 bpm (the lowest allegro range).