Were it me and if proper surrounds are available for the woofer (probably easy) and the midwoofer (maybe harder), I would
absolutely refurbish them. Rick Cobb is an excellent resource for high-quality surrounds.
Refoaming is (to borrow a term from science and mathematics)
straightforward.
Seriously, if I can do it, anyone can! And I can do it.
EPI 100V (with Win Burhoe's proprietary wide-bandwidth woofer, refoamed with the "proper" replacement surround from Rick Cobb)
Pioneer HPM-1100 "graphite/polymer" woofer (quite JBL-esque, with a notoriously fragile cone), refoamed with proper under-mount surround sourced from "Gordon W" (at audiokarma).
Before (undergoing CAT scan)
After
Hope this is inspiring to the OP,
@agiletiger