In this situation, I'd say take the $1500 and a spin. I know a lot of you are saying to take the Whammy or the water bike, but I'll give my reasons against those two:
1. Even though the Water Bike is worth at least $2000, that still leaves you 6 spins to take and, now that you have some money, the \"take the Whammy\" strategy is out of play!
2. If you take the \"Whammy,\" yes, you do get your spins moved to the earned column (6, in fact!). However, think of it this way: You now have 2 Whammies. Hit two more and you're gone; you can very well hit 2 whammies in a row here! While it's still not a huge possibility (1/36), it's still worse than hitting 3 in a row (1/216!).
3. If you take the $1500 and a spin, that not only gives you some money to work with as in #1, but you now have 1 spin in the earned column, so, even if you hit a Whammy, you get the same amount of spins that you would've had in scenario 2.
When you have $0, in my opinion, your first mission should ALWAYS be to get some money! Unless both of your opponents have $0 as well, you can't win the game! Getting some money not only puts you in good contention to win against your opponent, but, with that one extra spin, pending you do fend off the Whammy, you can still pass it to your opponent and watch him/her squirm!
However, this is quite the paradox. I, however, wouldn't feel comfortable taking on a second Whammy; how about you?
Anthony
P.S. I also remember a particular scenario from 1986 where one guy actually fended off 10 passed spins without a hitch! Let's just forget about the fact that he got passed the final spin and Whammied with over $30,500!