[2022] Question about non-Standard drafts

So today there's a draft of an ancient, non-Standard set. (Of course I've entered.) But I had a question about these drafts and Alchemy. (Please, no I hate Alchemy responses.)

I understand that Historic is now using Alchemy variants rather than the cards as originally printed. So what happens in a draft? Do you get and play with the original printing or the variant printing in the draft? I'm assuming you get both versions. Am I wrong in my assumption?

Also, what do they do about banned cards? Do they show up in the draft at all, or are they forever gone from the game?