All of your solutions are good!
I would purge: but instead of throwing away, I would store away, and rotate every month like you suggested. However, I wouldn't change the whole closet every month, only re-evaluate which items get to go in the closet and which go to storage. That way you can explore your items and their possibilities.
Or you could be very minimalist, challenge yourself and allow yourself only say, 3 bottoms, 2 dresses and 5 tops a week. Then try your best to make the most out of these and change articles after a week. You could allow yourself to go fish for a different top or bottom mid-week is you have a special inspiration, after all you don't want to be masochistic.
You can take things out of your closet and throw them together on your bed for new unexpected pairings. Then chose the rest of the items according to this new "direction" for a week.
Or you can sort your items by colour. Sometimes this is very inspiring and reminds us to wear items we had forgotten about. Some colours match really well, but until we put it side by side we don't know, for example turquoise and navy, pink and orange etc. This way you get to use more of your wardrobe.
Sorting your clothes will also be useful to determine if you have repeat and if you tend to be a serial buyer of one specific item.