This is not a complete answer, just a pointer on one aspect of your question,
the relationship between two of your three "interpretations."
As you note, not all polyhedral graphs have
a realization that is inscribable in a sphere.  Here is an explicit example:

> "Uninscribable 4-Regular Polyhedron."
*Electronic Geometry Model No. 2003.08.001*.
David Eppstein and Michael Dillencourt.
([Link to abstract, and to the images below][1])

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![alt text][2]
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![alt text][3]
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There is a characterization of the inscribable polyhedral graphs, obtained in 1992:

> Craig Hodgson, Igor Rivin, and Warren Smith.
"A characterization of convex hyperbolic polyhedra and of convex polyhedra inscribed in the sphere."
([arXiv link][4])

<hr />

Now that I understand better the thrust of the question from the OP's comment below,
I believe this recent survey by Günter Rote should be helpful:

> "Realizing Planar Graphs as Convex Polytopes."
*Graph Drawing*.
Lecture Notes in Computer Science Volume 7034, 2012, pp 238-241.
([Springer link][5])


  [1]: http://www.eg-models.de/models/Polytopes/2003.08.001/_preview.html
  [2]: https://i.sstatic.net/5mHLZ.gif
  [3]: https://i.sstatic.net/ga5hx.gif
  [4]: http://arxiv.org/abs/math.MG/9210218
  [5]: http://link.springer.com/chapter/10.1007%2F978-3-642-25878-7_23?LI=true