F100 FLC HAS HYD MALFUNCTION ON FINAL APCH; DECLARES EMER.

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I WAS THE CAPT AND THE PF A VISUAL APCH. I WAS HAND FLYING WITH THE GEAR DOWN AND LOCKED WITH FLAPS SET AT 42 DEGS. AT APPROX 1200 FT AGL WE RECEIVED A LEVEL 1 ALERT. I GLANCED AT THE MFDU AND TOLD THE FO TO COMPLY WITH THE CHKLIST. I EXPECTED THIS TO BE A RELATIVELY SIMPLE FIX DUE TO THE NATURE OF THE ALERT (LEVEL 1). I PROCEEDED WITH THE APCH; BEING MINDFUL NOT TO BE DISTRACTED BY THE EVENT. I WAS SURPRISED WHEN THE FO STARTED READING FROM THE MFDU THAT NEITHER REVERSERS NOR NOSEWHEEL STEERING WOULD BE AVAILABLE ON ROLLOUT; THAT THE GEAR COULD NOT BE RAISED AND THAT FLAPS MUST BE RAISED USING ALTERNATE PROC. I ADVISED THE FO THAT WE WOULD GAR. THE FO IMMEDIATELY RECOMMENDED THAT I LAND SINCE WE WERE IN LNDG CONFIGN AND THAT GEAR AND FLAP RETRACTION WOULD BE ISSUES. THERE WAS NOT MUCH TIME LEFT TO HESITATE; SO I CONCURRED AND ASKED THE FO TO DECLARE AN EMER AND LANDED UNEVENTFULLY. I STEERED THE ACFT CLR OF THE RWY USING RUDDER INPUT; SET THE BRAKES AND REQUESTED TOW-IN TO THE GATE. THE HYD SYS 2 QUANTITY INDICATED 62 DEGS; POSSIBLY TRIGGERING THE LEVEL 1 ALERT. THE MYSTERY WAS WHY WERE SYS 1 COMPONENTS UNAVAILABLE. THE FO REALIZED THAT HE HAD INADVERTENTLY SELECTED SYS 1 PUMPS OFF INSTEAD OF SYS 2 PUMPS IN ATTEMPTING TO COMPLY WITH THE CHKLIST. I SHOULD HAVE GONE AROUND WHEN MY INITIAL INSTINCT TOLD ME TO; DESPITE THE WELL-INTENTIONED ADVICE FROM THE FO TO THE CONTRARY. IF WE HAD GONE AROUND; WE WOULD HAVE BEEN ABLE TO EVENTUALLY DETECT THE SELF-INDUCED PROB AND MAKE A SAFER APCH WITH MORE CRITICAL SYS OPERATING. ADDITIONALLY; HYPOTHETICALLY; I WOULD RATHER MAKE A GAR FROM 800 FT AGL WITH OUR DRAG PROB THAN FROM 80 FT. GIVEN THAT WE WERE LESS THAN 2 MINS FROM TOUCHDOWN WHEN THE ALERT OCCURRED; THE SAFEST SOLUTION WOULD HAVE BEEN TO GAR FIRST AND THEN TO HAVE ADDRESSED THE SYS PROB. THIS WOULD HAVE AVOIDED THE PROB OF THE FO HAVING TO RUSH THE CHKLIST. WHEN IN DOUBT; GAR.