Sorry can't give you advice on the options you listed. For our children, who also have US passports, we have opted for a 529 College Savings Plan.

They can be opened for a child from birth, you can buy into any US state's savings plan (some are better than others, so it is worth doing the research) and they are completely tax free should your child use them for his/her secondary education costs (this inlcudes not just tuition but things like accommodation costs etc).

The money can be used in just about any major educational institution in the world. This was important for us as we have no idea where our kids will end up going to college, so we wanted to make sure we could use the money not just in the US but here in Switzerland or in Australia, UK etc.

Each plan has different requirements. For example some need up front deposits, some need regular monthly contributions, while there are some that have very few minimum requirements.

The money is invested according to how close the child is to college age. So, when they are very young the investment risks are higher than when they are in their teens. You as the parent also have some say in how the money is invested and this can be changed throughout the life of the plan.

If the child is not cut out for university, the money can be either transferred to another child or withdrawn and at that point tax and some fees are calculated on the amount.

One of the other adavantages for us is that our US relatives can contribute directly to the plan instead of or in addition to sending gifts through the mail to us here in Switzerland. They're plans did pretty well over Christmas.

Here is a link to a site discussing the plans: http://www.collegesavings.org/advantagesOf529.aspx

Good luck and congratulations on your new arrival.