I would take the million, pay off my house, buy a new car, get some new toys, and dedicate the rest of the money towards establishing a non-profit organization working with underprivileged and at risk youth... If I took $100 a week for life, it would take almost 200 years to reach the same amount. Taking the lump sum, even if I had to spend all of it in a week, would be the smarter move long term, especially if the end result is an organization that will contribute something positive in this world for many years to come.
What would you do if you were given the same choice???