ReadyNAS NV+ v1, RAID1 Drive 1 bad

I have a pretty old ReadyNAS NV+ v1, set up with 2 drives, 1TB each, in a RAID 1 configuration.  The display now reads Booting...  basically forever.  I've taken the drives out and checked them with SeaTools "Short Drive Self Test".  Drive 1 is dead.  Drive 2 is fine.  The NV+ will not boot to let me read drive 2.

With the NV+ being so old, I would like to salvage the data then upgrade the NAS.  What is the easiest way to access the data on drive 2?

Option 1:  Can I put drive 2 in Slot 1? or

Option 2:  I get a 1TB drive, replace drive 1 and have the NV+ rebuild the array prior to accessing the data. 

I would prefer option 1, but if option 2 is recommended I'll go that route.

Thanks!