A/N BMS, I fully believe Faith was the actual Slayer and Buffy was an extra. Actually, canon does support that idea since it's never refuted that there's only supposed to be One. At a time that is. When one dies, another activates and is The Slayer, which means Faith became The Slayer, because Buffy, then Kendra, died. The enjoying spell they did against Adam could even be interpreted as Sinaya, the first Slayer, trying to tell Buffy that there's only supposed to be One and it's not her, not anymore. Buffy rejects what Sinaya is trying to tell her and then later Sinaya tries to tell her that 'death is her gift' which could be interpreted as Sinaya telling her that dying Calls the next The Slayer or that Buffy needs to stay dead.
Having multiple Slayers ends up being a problem in the comics as it helps lead to exposure, that lends some credence to the theory.
As for Dawn being made from Faith, I've believed that from the very beginning. The monk tells Buffy that they made Dawn from The Slayer and sent her to Buffy in the form of a sister. That's a nearly word for word quote. The monk is clearly distinguishing between The Slayer and Buffy. Which, yes, means Dawn is made from Faith.
I really hope Joss didn't intend scenario three from your post to be canon, even though it makes sense, because that would make the comics pairing of Xander and Dawn even more gag inducing that it already is.
But I also believe Joss made the comics as ridiculous as he could because he was so frustrated with what Buffy became, after all, he's on record as saying he intended to make 'Normal Again' canon. In case anyone forgot, Normal Again is the episode where Buffy thinks she's in an insane asylum and only believes she's a superhero, she really isn't. It would explain the improbable victories over ever increasingly powerful Big Bads, though, if Joss really wanted us to believe that. 8)
That being said, Dawn is not the Key in this story, she's a regular girl born into the Summers family and has what she considers a good reason to be an Uber annoying little sister toward Buffy.
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"So parent teacher night went well yesterday." Buffy commented a couple of nights later at the Bronze. "Even if Sheila didn't show up to help like she was told to."
"If it was anyone except Sheila, I'd automatically suspect a vampire got her." Willow informed her friend. "But Sheila's dangerous all on her own. That guy she called Meatpie? He's the guy she can take home to meet the parents, as in he's at least semi civilized. The whole reason she was assigned to help out was to try to keep her out of trouble, after all."
"How much trouble has she gotten into?" Buffy asked, curious.
"She spent time in Junvenile Hall for stabbing a teacher with pruning shears. Assault, because the teacher didn't die or anything, she stabbed him in his hand."
"She didn't claim self defense, was he grabby or something?"
"She claimed she did it because she felt like it." Willow answered. "She's an example of what Owen possibly could have become if he'd found out you're the Slayer, way too fascinated with death and pain."
"So you're thinking the reason she blew off helping out was because she was willingly involved in carnage of some sort and maybe got caught by the police?"
"I'd suspect that before vampires in Sheila's case, yes. Saying her name makes me a little uncomfortable, Sheila's also my mother's name."
"I didn't know that, you rarely mention your family. In fact when you said they wouldn't be at parent teacher night because they're rarely home and were on a lecture tour, I think that's the first time you ever mentioned them."
"You're probably right, I don't talk about them much, they're of the opinion that because I have a genius level IQ I can take care of myself and don't need them actively participating in my life. As long as I follow all the rules they have for me, I don't get to see them much."
"That's kind of painful sounding." Buffy said sympathetically. "My parents at least want to be involved in my life, it's just my sister who doesn't."
"I think that's the first time you've mentioned a sister." Willow pointed out.
"She insisted on living with our Dad because she blames me for our parents divorce, which I also blame me for, so I can't really be mad at her about not wanting to be in the same city as me. She stayed with our Mom this summer while I was with Dad. She wouldn't even talk to me when Dad picked me up and dropped her off."
"Tell me about her." Willow offered.
"Her name is Dawn and she's 10 and I miss her, because as much as she annoys me, she's still my little sister."
"As much as I resent my parents not being an active part of my life, I miss them too." Willow confessed.
"She's going to spend Halloween with us though, you'll get to meet her then. Dad's got a thing out of town. I doubt she's happy about spending the weekend in the same city as me and Mom will probably make me take her trick or treating, but she might unbend enough to be civilized."
"One can always hope." Willow nodded in agreement, as Oz arrived to ask her to dance and Buffy once again absently admired the blush that Willow sported at the attention being paid her by a boy.
