For me the "dovetail" is that although it's possible to point out the current value of those options, there are still significant unknowns associated with them for the recipient. If the drugs fail and the stock price craters what are they worth? (RQ) Having thought about it a bit more (and being a bit lazy), if we are going with my number on the previous discussion I would feel more confident in saying it was closer to double than triple. (For accuracy's sake only.)
Many (myself included) tend to look at someone who has achieved a certain financial level and feel envious. I am simply trying to ask myself. "If I had two million dollars at that time, would I make that loan so that today I could stand to reap the benefits? Honestly I believe if I would have, you would dislike my terms much more than the current ones.
It does raise another interesting question (as usual). What if that was not cash he loaned the company? If he secured a personal loan in order to lend it to the company that would potentially change his "windfall" significantly, as that debt would have a payment and interest rate attached as well. As to opportunity cost: He could have put that money in Facebook instead, then it would be worth around 8 million today and I would really envy him. :-)