Fix or buy new/used?

I have a pair of Acoustic Research AR-9LS speakers, a Pioneer A-80 Amp, and matching A-90 FM tuner. All of them are inoperable and need repair. I bought them in 1984.

The speakers are big, heavy, and rated 175W RMS. They have five speakers; a tweeter, a midrange tweeter, and 8", 10", and 12". The amp is rated 150W RMS/channel. In the case of the speakers, I need to replace the surrounds on the 8", 10", and 12" speakers. The kits are available for less than $30.00. The amp has a channel out and will probably require a power transister and a few resistors. The tuner needs a new touchpad.

This was a pretty high-power system and is 25 years old. However, I am 25 years older too, and I don't really want such a powerful system anymore. What I want now is an audio system to add to my 42" TV and to be able to play CDs on.

So, should I repair all this and connect my TV and a CD player to it, or should I sell the whole thing and buy a theatre system? Should I repair everything before I sell, or sell as-is?

Also, I need to be educated about theatre systems; what is my best bang for buck?

Thanks!