I am working on cleaning up a website and discovered in GWT there are about 5k 404's from one specific content area they had in 2005. For some reason they chose not to pull the data over when they upgraded to a new CMS.
The content is gone deleted from the old DB. All the pages have multiple websites linking to them. This guy was a hot topic back in 2005 and I guess there was something that happened who knows they really won't say.
So with that said what would you do with 5k in 404's that contain hundreds if not thousands on incoming links?