Neither. Cheilectomy. I had it done 5 years ago (am 61 now) and I jog, dance, wear heels, etc. Call the Ravens or the Redskins front office and find out who they use for this (turf toe, runner's toe, tennis toe, etc). Go see him/her.
Also research Shaquille O'Neal. He had one back around 2002 when he was with the Lakers. Played about 10 weeks after procedure. Hasn't missed a beat since.
Your HL must be pretty advanced if your doctor is jumping directly to a Keller or fusion. You're right, the side effects of both procedures leaves much to be desired. I'd recommend getting a shoe insert to stiffen your toe (either a carbon plate or morton's extension) and see how you do with the stiffness. It will give you a good idea how your foot will respond post fusion and if you're still able to do all the things you want. That may help you make your decision.