This was a personal decision as I was advised that the #2 would offer a more rustic look once the floor was scraped and stained.  THEY were right…………..I love it!!  Plank width can vary between a 2 inch wide to a 5 plus inch wide plank.  Most common is in the 3-4 inch width range.  Cost of wood will have to be factored in to your quote.  The wider planks of wood coupled with the higher grades of wood like will ALL factor in to your quote.  I suggest you VIEW WOOD SAMPLES of various grades and widths and TYPES prior to selecting what you want.  I would also suggest you tour a few new high end homes to see what’s out there before you commit to your selection.  This helped me tremendously with my selection.  Most wood is in the ¾ inch thickness category.  WHY pay more for a #1 grade when they will soon scrape trash bags of wood shavings from what starts off as a smooth wood plank??  I actually took my installer to a new home where I wanted them to replicate exactly what I showed them.  THEY DID!  I am very happy with what they suggested which was what I already listed at the top of this section