Funny this should come up. I discovered yesterday morning the handle on one of my grey tanks was completely missing. Lost it on the road I suppose. I thought I was toast because my valves are completely foamed in. Well, I pulled away the foam a bit and the short shaft attached to the valve with the threads was there. Phew! I didn't have to cut into the colorplast underbelly!
I went to my local RV dealer, got the extension rod kit with the pull handle and then I attached just the handle to the threaded nub. I attached my sewer hose first. It caught just enough I could pull the valve. This lengthened the working distance of the rod attached to the valve so I could attach the new extension to it.
After water was drained and I was safe from all that. I simply used a pair of channel locks to grab the threaded valve shaft so it wouldn't turn, unscrewed the pull handle, attached the extension shaft using the channel locks to hold the short shaft from turning and then attached the handle to the extension. It took about a minute and a half to do it. I then tightened the extension and the handle as tight as I could, so much, the short shaft was actually turning in the channel locks. I figure that was tight enough.
If you are replacing the entire valve, then you'll cut the PVC pipe and rebuild the drain pipes with the new valve attached. They are glued. You'll never separate the plastic (PVC) or whatever it is, from the drain pipe.
Next time I go to the dealership, I'm picking up another extension handle and keeping it for safe keeping. Never lost one before, but as the boy scouts moto says, "Be prepared!"