Cast iron pipe replacement

I have a cast iron soil stack that is suffering from the "graphitization corrosion" described in this article
<http://irc.nrc-cnrc.gc.ca/ui/bu/grayfailuretype_e.html>
and need to replace it - it is about a 5 ft section in the basement that comes up off a Y branch with cleanout on the basement floor, and the pipe that feeds it is copper going into the upper flange. Top and bottom, lead & oakum I assume. ( House is 40 years old or so ).

What is the best solution for replacement? I've seen recommendations about ease of replacement vs noise etc, but I'd like to do this up right. One of corroded areas is right at the bottom, so cutting and splicing with the neoprene sleeves probably will not provide the best solution. How easy is it to remove the pipe at the flanges and what would you recommend?

Thanks in advance.

Without pictures, it's a little hard to say.
Sometimes I remove the pipe from the hub fittings, sometimes I cut the cast, and use banded couplings.

You can make an argument for either plastic or cast iron replacement.
In most homes, I'm using plastic.