I vote rehydrating. In case you want someone else's opinion on how to do it: I get about 1-2 cups of water in a microwave safe container that will give enough surface area to evenly spread the yeast. Ex, not a coffee mug.
Then I heat in the microwave until it hits about 100* F and then sprinkle the yeast ontop of it evenly and avoid clumps. Then cover it with aluminum foil. Wait 15 mins then stir the yeast. Then pitch to beer. So you'll want to time this so that after you stir you're ready to pitch. I usually start the process while my wort is chilling.