Has anyone had any experience dynamically sizing columns based on the data?

Our current grid (based on java) does this.

My options seem to be:

1) Calculate / Estimate the column sizes on the server while retrieving the data (not ideal).

2) Try and add something on the client to do adjust column sizes after the data is loaded.

3) Allow our users to save their column sizes and try and pass it off as an enhancement (hehe).

Any help or suggestions would be great, thanks!