2112, I am not a noob, but I am not a professional hardware developer either, so I may be missing some aspects, which will byte me in the butt latter ... but then I'll learn which is a win
It's neither 1 or 2, but for fun and will definitely learn something new while working on it ... well its close to 1, except it's not over-specification, but around chip specifics.
this project will be a miner around the 55nm Bitfury chips, not a standard miner design.
a design like one would do to settle a bet
not a bet, but because no one thinks it's possible and because the chip has some specifics will allow to do that by working on the edge (and beyond)
One thing is for sure it's far from 2) there is no fun in standard designs (just copy paste and recalculate), but the chip is also not standard
There will be continued project latter to replace the RaspberryPI and existing software with ESP32 or ESP8266, but that's not for the hardware forum and as free time project will probably take several months.
Again, I don't have a specific knowledge about Bitfury's chips and their communication protocols, but some power electronics designs deal with 100% ripple by resetting the devices at 100Hz or 120Hz during the zero-crossings of the mains power. It probably wouldn't pertain to Bitfurries, but you still may consider modulating your mining clock rate during each half-cycle of the ripple. Over-clock when the chip are over-volted on the average and under-clock when the chips are under-volted on the average. The required additional power in the controller is next to nothing when compared with the power losses in the full, actively stabilizing regulators. Adjusting the clock rate several hundred times per second shouldn't be a problem for properly designed controller.
See my previous post - the chip speed and consumption depends on the clock which is internally generated and voltage dependent, so we have this for free
For protection against spikes a choke and inrush current limiter before the capacitor should be enough: ~400 chips string may survive spikes up to 600V DC, but then the current is 3.5A, so if limited to 2A the transistor should take that load and just in case planning to add a 400V transil in addition.