Based upon what was released and said so far, I'm leaning towards a combination of the two: defunding and outright repeal.

Remember, the last Congress did not create a budget for FY 10-11. They are operating on continuation budgets with the next one expiring (if memory serves) in February.

They can start with defunding everything that doesn't pass the Constitutional Authority provision, and then follow up by repealing programs/agencies one at a time.

This gives the GOP a literally once in a lifetime opportunity to follow through with a promise it made.