The Bungalow Spur is most probably best for most people. There's a track, water at three creeks, the hut tank may have water, and there's always water on Tom Kneen Track. The gradient is quite reasonable. In bad weather, about two minutes below the hut you are out of the wind. Champion Spur has water low down, then nothing until Federation or Tom Kneen. It's 12 kilometres. I do not know if there's a track.
https://graphhopper.com/maps/?point=Har ... i%20AerialBungalow Spur is is 9 kilometres.
https://graphhopper.com/maps/?point=-36 ... i%20AerialI see no point going to Hotham.
For two days, maybe go up Champion Spur, perhaps six hours to the Razorback-Bungalow Junction. Climb Feathertop, get water from Tom Kneen, camp at the hut. Down Bungalow the next day. I'd leave the car at the Bungalow car park, which is about 500 metres from the end of the spur, where it meets the bitumen. This route gets the hard stuff over on the first day.
Another option is to go up Bungalow, climb Feathertop, pick up water for the night and the next day, and camp at the top of Diamantina, 10 minutes from The Razorback. This is a lovely site. There's a picture on
https://bushwalk.com/forum/viewtopic.ph ... &start=240On the second day go down Champion Spur. Leave the car near the bottom of Champion Spur or in the Bungalow car park.