I like the idea but I agree with Iain, the new border and "Copyright 2007" are a little incongrous.
I thought I'd have a bit of fun with it, hope you don't mind ...
I used a scan of an old photo that I've been restoring for someone for the border
Pasted in your image
Then either cloned in from the scane or drew (with dodge and burn) the wrinkles and damage
Should have done something about the white surround but I have to go out so no time.
Cheers
Dan