The DHCP static route option ("option static-routes" in dhcpd.conf) works only for classed IP routing (i.e. it provides no way to specify a subnet mask). Since virtually everything now uses classless IP routing, the DHCP static route option is almost totally useless, and is (according to the dhcp-options man page) not implemented by any of the popular DHCP clients.
This leaves the caller-specified "relay agent IP address", the giaddr field from the DHCPOFFER message(s) and the default gateway(s) provided via the routers option ("option routers" in dhcpd.conf) in the DHCPACK message. Each of these is a default gateway address. It's a fair bet that the routers option should take priority over the giaddr field, since the routers option has to be explicitly specified by the DHCP server operator. Similarly, it's fair to assume that the caller-specified "relay agent IP address", if present, should take priority over any other routing table entries.
Etherboot does not enforce either of these restrictions; they seem (as with so much of the PXE specification) to be artifacts of the Intel implementation.
1.5.7.1