I'm not sure that the OP actually wants the results pivoted.  I think that this will also be faster, but that will be hard to test without any sample data.

Look at ROW_NUMBER(). If you follow Steve's advice, you may get tested code.

Drew

Options 2 and 3 both violate First Normal Form.  It would be a major pain to add new flags, and there wouldn't be an easy way to discontinue flags.

Please provide sample data and expected results.  Read the first link in my signature to learn how.

Drew

I believe that the DENY permissions take precedence over any GRANT permissions.

Also, OP, when you are creating topics, it's very helpful to summarize the question in the name...

This design is absolutely HORRIBLE.  Push back and say "No" before it's too late.

Drew

Precision, scale, and Length

Because NUMERIC(4,2) sets two spaces for decimals, which only leaves two spaces for the integer portion.  Since 50*10=500 and 500 requires three...

You don't need the CASE expression.

SELECT o.NameRecord,
    ca1.value1,
    ca1.value2,
    ca1.valueType + ' has changed from ' + ca1.value1 + ' to ' +...