Actually, point #2 is wrong. Most of the major foundries have their own font licensing system these days (or it's a work-in-progress). It's not the greatest solution since you can't have all your licensed fonts in, say, TypeKit, but it's not too bad.

- Linotype/Monotype: http://webfonts.fonts.com/

- Bitstream: http://new.myfonts.com/info/webfonts/

- FontFont: http://www.fontfont.com/opentype/

- TypeKit (various foundries): http://typekit.com

…and Hoefler & Frere-Jones is currently working on a web font licensing system as well.