You need a banded on above ground, the unbanded one under, so you have the right one. Make sure to backfill carefully to keep the ends aligned. Pipe dope sounds like the longest lasting. A piece of rough sandpaper might smooth things out a little, too.
Taking the cast out of the hub is tedious, but if you have full access not too bad (I'm not a pro, the last one of only two, I did took maybe 1/2-hour on a 4" hub). Find a drill bit the thickness of just under the width of the lead in the joint. Make swiss cheese of it all around the pipe. Work it back and forth a bit to loosen the pipe, then dig it out. You should be able to get all of the pipe, lead and oakum (oiled hemp) out. Finding the proper sized Fernco dognut to insert may be the harder task, but sometimes you are lucky and find the right one. They come in numerous sizes since cast is only sort of standard (the lead filling the gap isn't super critical, so the size of the hub isn't - as long as the pipe fits in and there's enough room to put in the oakum and pour lead in, they didn't care that much). Basically, then, the connection would be to insert the dognut, then push the new pvc into the hole. If you get the right exterior diameter for the CI, it makes a great seal. If it is too tight, you may never get it in, if it is too loose, it leaks, so specifying the proper size is important. I'm not sure, but I think I remember seeing them in 1/16" steps in the catalog, and you may only have one or two choices stocked locally.