When is the Incredibles set in? What time period?

The two theories I always hear are the following:

Theory 1: Early 1960's
>1964 seen on newspaper
>60's style clothes, cars, tv shows, etc.

Theory 2: Alternate Universe influence by the 60's.
>Advanced technology seen throughout movies
>Creators hinting at this theory in interviews

What are your thoughts /co/? Which thoery do you adhere to, if any?