I say give them whatever they want, whether that's statehood, sovereignty, independence, or remaining a territory. I definitely think there should be a referendum to choose between those options (in some form), and we could use that as a model for similar referendums in our other territories (Guam, American Samoa, US Virgin Islands, etc.)
Personally, I would probably support either sovereignty or independence.
The Dems would love statehood....
Independence.
Democrats would want independence, as I understand.