The knife looks fine to use or collect as is. One thing to keep in mind is that once it is reworked any historical value is gone. The utility is still there though...maybe more so because of the handle upgrade. Also, keep in mind that it was an inexpensive knife in its day and today. If you do rehaft the knife, it's best to mark the knife. Inside the liners is a good place. Your intiials and date are good enough.