Sorry about the lack of response, the last time I saw this I thought you were involved in a specific conversation so I did not want to but in.
I think the best approach for your options scenario would be to have a table that will have a record for each option, this record would need the option name, the item id to associate it with and a price that will add to the price of the item. I think this is the best way to keep the options and products organized.
On a product detail page you could then have a recordset that selects all of the options for that particular item. You can use this recordset to populate a select list with the options. Getting the price to add to the items price requires a couple more steps though. For the option select list you have should have the option name for the label and maybe also list the additional price for that option in the label as well. For the value you should have the id of the option. Then when the user submits the form to add the item to their cart you will need to have another recordset that selects from your option table and filters based on the posted option id. You can then use the bindings from this recordset to get at the price and name for the option to include in your add to cart. You can add the price to the price for the item and include the name of the option in the corresponding cart column.
Let me know if you have any different ideas for how you would like to implement this or if you have any questions in general about how you can accomplish this.