So, checking the completed listings on ebay, supra 400`s have been selling between $200-$275...Let`s subtract that amount from the $800 price tag which leaves you in the $525 to $600 cost range for just the drums...
The lugs are easy to procure...Marching toms are great donors and/or they come up on Ebay and Reverb all the time...
I wouldn`t recommend grafting pieces of wrap in the bare seam areas because it wouldn`t look right and would reflect the value as well...
If you do choose a rewrap, you have decreased the value of the set (without the snare) to approximately $250-$300...The cost of purchasing a good wrap is at least the same cost...So, you have just added approximately $500-$600 to the cost of the set...So, this cost plus the original cost of the drums (minus the snare) is now approximately $1000-$1200...Can you recoup this money when you sell it, I doubt it...
But, if you are looking for a project and you are going to gig the set, or, keep it for quite awhile, then a rewrap is an option...If you just plan to do the project and resell them, it isn`t a good investment...
If this were my set, I would leave the original wrap on the drums...The wrap looks like it`s in nice condition from what I can see...Of course, this is only my opinion...
I hope this helps...I`m sure some other members will chime in with input as well...
Cheers