I think I have come to a decision, which is not only somewhat of a 'compromise' but also should serve to some extent as an experiment and learning experience.
As previously said, I'm not inclined to use lead, mainly because I'm not 'public spirited' enough to see the sense in paying appreciably more in order to achieve something which will live much longer than I will, and hence will only benefit someone other than me !
That leaves the other two options. On the basis of what I have seen so far, I don't think that by any means all of the flashing needs repair/replacement - the issues relate primarily to one of the sides of the roof, with a few other possible issues elsewhere.
My current thought is therefore to use Ubiflex for as much as I can do with one roll, and then use Flashband for what is left (probably mainly things which may not even 'need to be done'). That will teach me the relative differences of using the two products and, if I am able to observe for long enough, the relative medium-term performance/survival of the two products. This plan has been made even more attractive by the fact that I have discovered that a colleague has a roll of Ubiflex of an appropriate size (in 'damaged packaging') which he is prepared to sell to me for appreciably less than the retail price!
Given what has been discussed, I may well not do the Flashband+mortar experiment.
Somewhat 'messy' an approach, I agree, but I wonder if anyone has any thoughts about it?
Kind Regards, John