Those are some nice-looking speakers.
And I would second Dave's suggestion about swapping out those 811B horns (rated for 800Hz crossover) for the 511B horns (rated for 500Hz crossover). These are the horns that should have been used with your crossover. This is the recommended configuration. But, if you are satisfied with the current rig, carry on. (The 511B horns measure 24" across the front if you want to measure for room.)
As for repairing the splits in the surrounds, there is a guy on ebay that sells the proper sticky mixture for repairing these. It never hardens, as opposed to any other commercially available mixture. Just use a small piece of linen and repair the cracks from the back, like Earl suggested. A repair using the proper sealer and a piece of linen will be a permanent repair. If the speakers and horn drivers sound OK, I wouldn't worry about them.
The biggest (and cheapest) modification that you can make to them is installing the Altec 30923 circuit to your horn leg. This circuit dramatically lowers the mid range "honk" and accentuates the hi frequencies. It's a change that moves the horn's sound more to a Hi Fi characteristic instead of a ProSound curve.
You need to build only the top portion of this circuit. (The bottom portion is a Zobel network not made for your system.) If your 802D driver is still 16ohm, you will need to use the following values:
C1 3mF
R1 7.8 ohms
R2 13 ohms
GeeDeeEmm