My old TT had the same kind of drain petcock. It is factory installed, and works just fine. Yes, you'll want to bypass the water heater so that you don't spend money pumping 6 gallons of antifreeze into the water heater tank. Simply opening the petcock will allow enough water to drain out to avoid freeze damage. I found that opening the pressure relief valve allows the drain to work more efficiently.
I also tried to remove the "plug" that the petcock was installed in with no success. Part of the problem is that the "wings" of the petcock are wider than the mounting bolt, so the only kind of wrench you can get on it is a crescent wrench, which just doesn't have enough grip to break that thing loose.
Not to worry too much, though. My Atwood water heater was 26 years old and still working fine when I got rid of the TT, and all I ever did was drain it through the petcock.