RE: Returning to RC flying, radio questions.
Bob-I,
Welcome back to the hobby!
The Hitec is a good choice for a mid-range radio. It will serve you well as long as you remain a sport pilot. If you plan on getting into some more complicated setups you may be better off taking the next step and picking up a Futaba 9C (9-channel) or JR 8103 (8-channel) or maybe even the new JR 9303 (9-channel). I find that although not required I typically use an 8-channel receiver in my aerobatic planes. It makes setup and programming my Futaba 9C a breeze. I suggest you try to look into the future and see where you end up in the hobby. If you plan on flying giant scale aerobats with multiple servos on each flight surface or warbirds with flaps and retractable landing gear and bomb drops or turbine jets or even gliders with 4 wing servos take the next step.
Oh yeah, either way you go I would definately replace your old gear. Repairs probably don't make economic sense if they can be made at all. Good luck to you!