Sizing on websites

Hey guys im currently working on the finishing touches for a new online clothing store that carries urban and street wear.  I need some opinions on what people prefer when it comes to sizing of garments, any input would be greatly appreciated thanks in advance.

Here are the 2 options, if theres another way to go about it please let me know.

1.  Measure every piece, of every size so we have exact measurements listed.

2.  Have a general sizing chart for each size and if a customer needs exact sizing they can email us and we can do that for them.

We are leaning towards the 2nd option, but i want to know what you guys think.

thanks for the great input, im going to add a few specifics about the site so it gives you a better understanding on the terms and all that.

-pricing for mens clothes on the site typically shirts are anywhere under the $100 range usually between $40-65 jackets are between $100-300$ usually although there are some around the 700-900 range....i used that comparison because shirts are least expensive and jackets usually are most expensive garments, all prices are Canadian dollars as it is a cdn store but ships worldwide.

-as of right now the return policy can be changed and our return policy is exchange or credit into your account no returns, and if you exchange or return for credit then customer pays for the shipping charges.

-shipping in canada is $15 flat rate orders over 250 are free, in u.s. $25 flat rate orders over $300 are free

now given this information how do you feel about the whole sizing chart thing? would general sizing with the option to email for exact measurements be good enough or do you feel exact measurements is a must?