What's the best way to handle discontinued product pages that have backlinks?

[adamsmithad]

I'm reviewing several discontinued product pages that still have valuable backlinks and some historical traffic. Considering
SEO Services for ecommerce, I'm trying to determine whether it's better to keep these pages live, redirect them to the most relevant alternatives, or return a 410 status. For those who have dealt with similar situations, which approach helped preserve the most SEO value while maintaining a good user experience?