Neal,
That is my plan. They (Rhodos) are very mature, but I think it will the best way. I get to make sure I get it all of the PI out as well as three or four Maple sapplings and as an added benefit, I get to paint the two gararge windows that badly need some TLC.
I would replace with a different variety of Rhodos. This would give me the sneaky option of "filling in the space" with irises (temporarily of course) until the rhodos mature.