APAD: A friend in need is a friend indeed

A friend in need is a friend indeed
"There is some debate about the meaning of this expression."

Firstly, is it the friendship 'indeed' (without doubt) or 'in deed' (demonstrated by one's actions)?

Secondly, is it 'a friend (when you are) in need' or 'a friend (who is) in need'? If the former, then the phrase means: 'someone who helps you when you are in need is a true friend'. If the latter, it is 'someone who needs your help becomes especially friendly in order to obtain it'.

So, that gives us four options:

1. A friend, (when you are) in need, is indeed a true friend. ('indeed')
2. A friend, (when you are) in need, is someone who is prepared to act to show it ('in deed')
3. A friend, (who is) in need, is ('indeed') inclined to stress their frienship in order to obtain your help.
4. A friend, (who is) in need, is someone who is p'in deed') prepared to act to show their frienship and so obtain your help.

Crystal clear,  aha?