I personally use the third method. It makes the most sense to me because you can find all the credits for a specific track in one place. Using the other two methods, because composer, arranger, lyricist, and performer are all listed separately, you have to check up to four different places if you are looking for the credits for a specific track.
Maybe there should at least be some sort of guideline because, like dancey says, I do not like seeing notes that look like the first method.
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