You might be surprised how much the Nimrod spends feet wet these days. Or feet dry.
Its's also got a a bomb bay that can carry more (oh, so much more) than bombs; dumb, smart or rubber.
True, the Yanks are not upgrading the P3. They have caught up and are going for jets (the 737 derivative).
Also true, the Red Banner fleet is not what it was. Ivan has gone for the cold, hard, cash option and flogged them to .... just about anyone with cold, hard, cash. Or maybe oil.