By the time you rewrap and replace all of the parts you will have two things: a new set of drums with old shells and with no character and no possible way of selling them for a profit.

Re-wrapping, especially a desirable color, usually kills the value of vintage drums. As far as parts, you will want to use the correct parts. Post in our "Wanted" section and you should be able to get anything you need. Some of that chrome can be reclaimed, fairly easily. Do NOT use steel wool on any chrome parts as it will also have a negative effect on the value of the drums.

depending on how bad the lugs are,they can be buffed out. people do that all the time. everyone has their own methods, so post some pics and someone can help you out.

and depending if the wrap is just surface scratches and not deep in the spkl, then it also can be buffed out. i did this on many wrapped drums and acrylic material when i worked at a shop. problem is you would have to find someone with a machine who can do it.