Well, ML, it is a better epilogue, but only because you need to see Lois and Clark together. I felt that the story was strong enough on it's own without you needing to massage our sensibilities.
Gerry put things perfectly. I feel like a traditionally "happy" ending (even ending #2) is a bit contrived and excessive for a fic like this where things unfold pretty much like they should. It's not the satisfaction I get when they end up all happy, but it's a satisfaction of things ending up "in their place." And it's the best kind IMHO for a fic like this when a pasted happy ending seems out of place (even a nod to the happiness outside this particular 'verse when no alt-verse thing ever came up in the fic).
And maybe it's my own liberal take here, but I didn't find any of the plot points ridiculous in the story's context. That's why I have a problem seeing this as a satire. If in the scene where David tells her he hopes Lois will love him, she had looked at him and jumped into his arms and started saying she loved him, then I wouldn't hesitate. After all isn't satire the presentation of ridiculous things in a serious tone? (What is key to me is that they _remain_ ridiculous--so certainly if you think it is simply insane for Lois and Clark to even consider loving other people, then sure.) But things I would normally think odd were given a perfectly logical basis. And even moments when I arched the proverbial eyebrow had little flashes of awareness-- take when Kelly says she wants to be a mother, etc--she then shrugs and says she supposes it doesn't make her very ambitious. Just that awareness jarrs this out of satire for me, which as a genre is based on taking everything as what it is.
This is probably due to my own milage since genre is in the eyes of the reader. Still, I kinda felt like I wish I had known that the WHAM would be reversed before I started reading. All those warnings seem so empty now.
I feel like I should still reiterate that the fic was still pretty good regardless. Certainly, I like that it brings up these sorts of issues for me.
