I prefer Advanced ECC.
Optimized mode supports Single Device Data Correction (SDDC) only for memory modules that use x4 device width. It does not impose any specific slot population requirements.
Advanced Error Correction Code (ECC) mode extends SDDC from x4 DRAM based DIMMs to both x4 and x8 DRAMs. This protects against single DRAM chip failures during normal operation. The restriction is that memory modules must be identical in size, speed, and technology. Identical DIMMs are installed in matched pair. Since you can order a server from start with this type of module compliance, there's no problem using AECC instead of optimized.
Note that both optimized and AECC modes will let the full amount of memory be usable.
If power is fine which it should be on a server, there is no actual reason for RAM modules to have problems, the probability of that is low.
If you want to make sure you don't have to open up the server in the low chance case of a memory failure, you may choose spare mode. In this mode, one rank per channel is reserved as a spare. If persistent correctable errors are detected on a rank, the data from this rank is copied to the spare rank, and the failed rank is disabled. The memory available to the operating system is reduced by one rank per channel.
For example, in a dual-processor configuration with 16x 4 GB single-rank memory modules, the available system memory is: 3/4 (ranks/channel) × 16 (memory modules) × 4 GB = 48 GB, and not 16 1x (memory modules) × 4 GB = 64 GB.
Mirroring is like a RAID 1 for memory. The bad part is that in a mirrored configuration, the total available system memory is one half of the total installed physical memory, exactly like with HDDs in RAID 1. So if you really need maximum protection you an choose this one but in your case you will have only 192 GB (half) to work with.
Fault Resilient Memory (FRM) is an operating mode introduced in newer PowerEdge servers. The mode establishes an area of memory that is fault resilient and can be used by hypervisors such as VMware ESXi to load vmkernel, critical applications or services to maximize system availability. The operating systems uses the resilient region exposed from the platform and map the process’s address ranges to enforce resiliency. This is good to be used for ESXi installations. FRM creates a highly resilient memory zone for the hypervisor, protecting it from severe memory errors. With the VMware Reliable Memory feature, vSphere 5.5 and later revisions can take advantage of this zone, providing the hypervisor with a strong protection from memory faults that would bring down the entire system.