I can confirm Cruisers upgrade to AEGIS Cruisers with Rocketry. Mass Prod is required for Space Flight but not Rocketry.
I've tried the make-Leos-last-forever route in some games, typically ones where I am going the conquest route and not trading much, so Superhighways aren't an issue. After Combustion, you're going to lose either Colossus (with Flight) or Leo (with Automobile). Post Automobile, Sun Tzu is lost with Mobile Warfare... but getting Armor usually makes the loss worthwhile.
If I don't have Colossus and am not trading much, I'll happily hang onto Leo and if I'm bribing AI cities, turn those Pikemen/Musketeers/Settlers into Riflemen/Engineers...

Generally the unit disbands that result from a mass upgrade can keep the attack rolling