My 1880s New England home has clapboard siding that is in okay shape. Some clapboards are cracked, but the majority are fine. The biggest problem is that they're covered in lead paint which is slowly flaking off. I'd like to completely remove the lead paint and repaint in a different color scheme, but I'm not sure which is more cost effective:

1. Strip all of the paint (using some method that doesn't spread lead dust everywhere) and repair or replace damaged clapboards.
2. Replace all of the clapboards with fresh wood.
3. Replace all of the clapboards with fiber cement boards (less thrilled about about this, but if it's a lot cheaper I'd consider it).

I also have no idea what to expect the total cost of any of these options (plus the painting) to be. (The house is modestly sized, at two floors and about 1800 square feet). I'm guessing in the low tens of thousands? What are your experiences with dealing with lead paint on old clapboard siding?