I did something very similar to a set of Yamaha NS-A 635 speakers and documented it here on AK:
https://audiokarma.org/forums/index.php?threads/yamaha-ns-a635a-speakers-any-good.825077/page-2
I swapped out the electrolytic caps for Jantzen poly caps; and put in a heap of Nico butyl sound deadening mats (designed for making your car quieter, so they fit this need nicely). My goal, like ic-racer, was to take cheap garage sale speakers (bought for $35) and make them something more respectable. I paired them with an 80's Technics receiver, and I honestly thought they sounded quite nice indeed, after the improvents.
The drivers seemed fine; the costs were really cut on materials for these speakers -- thinner cabinets, not well braced, not well damped, and with super cheap 'lytic caps for the 'crossover.'
I think this series of Yamaha speakers is deserving of a little elbow grease and upcycling, if you or a friend are in the market for something cheap that can be upgraded. Maybe one day I'll build new cabinets, but for now, they;re at a friends house, waiting to be put into service as a fun basement system.
Thanks for the project notes/updates, ic-racer! very cool to see threads like this. These days, I feel like we should all be upcycling/recyling, rather than just dumping more things on garbage heaps, while extracting more and more resources for "new and shiny".