• I think we need to leave the content of zhwikisource alone now, but allow additional lzh content on oldwikisource, with rules against duplication.
• By process of elimination, I'd recommend "placing on hold" for now. I really don't see consensus coalescing here.  Also, I think there's a good enough chance that this test never goes anywhere that we may as well wait to see what happens before committing to a decision.  (And, to tell the truth, in most cases like this, where there is little actual activity in the test, that's what we actually usually do until there is proof of activity.)
• If you're not willing to do that, I would go for "eligible" IF AND ONLY IF that doesn't mean we're committing to the future of any existing content either way. In principle, this lzh ought to be eligible, and there's nothing wrong with saying so. But if we think that "eligible" automatically means that content MUST be moved in the future if an lzhwikisource is created, then I would "reject", because I don't think that moving content out of zhwikisource will ever be a viable option.

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