H4 to H1B transfer or using expired H1B petition to apply again


I have my H1B petition approved in 2008 and expired in 2011(w/o stamping).

My wife has H1B visa and planning to travel to US. I am also travelling with her on H4 visa.

My question:

  1. Can I use my earlier H1B petition(can apply again in same cap of 2008?) to get H1B visa?

  2. Transferring my H4 to H1B visa?

Which among above is a better option?