I just closed on a 1956 house a few weeks ago, and I'm in the process of remodeling the bathroom. I removed a portion of the old CI and galv waste lines, and I'm replacing with PVC. The old lead closet bend and flange doesn't seem to be leaking at the hub joint and the flange seems to be okay, but I am considering replacing the bend anyway. A few questions:

-In a previous post, Terry Love wrote:

"There is a brass Ferrel where it meets the hub.
And then the lead is built up around that.
To remove, we use a few drill bits, drill out what we can, and pry out the rest.
I don't bother putting heat on anything. "

What exactly would you be drilling out? The lead and oakum? The pup piece coming out of the hub?

-Terry also suggested using a Fernco donut. I'm concerned about fit (or lack of), and longevity. Some of the plumbers at work suggested Tyseal? Oakum then lead wool?