That would probably be my choice. I might even drive on the rumbles or on the gravel, but it could be an awful long drive that way.
One of the points that I make about riding as far right as possible is that evasive action of overtaking vehicles can be less severe, and two cars could even move over a little to safely get past.
Straddling the fog line does have the issue that a driver coming up on the vehicle from behind at high speed may assume the vehicle is fully off the road when in fact it is not.
As a cyclist, hard to say if I would jump on a bumper for a nip of a draft. Of course they also had group drafting, so only moderate benefit from drafting behind the car. Even if drafting behind the car, I would have chosen to be off the roadway.