Also late to the party. My first choice would always be new material that didn't have a defect that was going to interfere with the plan. If the existing material needs to be preserved, I'd carefully get glue injected in the crack as far as possible and then clamp it up. It may or may not get a visible butterfly or other similar accommodation to strengthen the fix...that would be material and situation specific and might even be on the bottom of something that has a hidden surface if I didn't want the crack fix highlighted. My absolute LAST choice would be to rip and re-glue. While this is a subjective thing, I never rip wide stock and re-glue if it can be avoided and for me, that's generally 100% of the time.
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The most expensive tool is the one you buy "cheaply" and often...