Hey Crafty, I turned 54 in May!!
First, my disclaimer: If you alter a vintage quilt in any way (including, but not limited to, sewing or replacing parts), you remove any monetary value of the quilt and it is no longer considered a vintage quilt -- it is considered to be the age of your work and materials (including but not limited to thread, fabric, tulle, and batting) added!!!
Now that that's said... and assuming that you want these wonderful quilts repaired for a keepsake and so you can use them and love them...I have had great results doing the following: First, I repair the quilt top as best I can. I re-sew seams, replace pieces, darn over holes and badly worn pieces. Next, I treat the old quilt as a "quilt top". I prepare a new back, use new batting and the old quilt is the top layer. Then I quilt it on my longarm using a meandering or wandering pattern (so I have control and can "fix" spots I may have missed earlier and the close stitching strengthens the quilt). Finally, I add a new binding!!!
My daughter lives in Indy. If I can help you with any of this....let me know!
I can't wait to see your pictures!!!