It would take more than re-engining to make it work.Some of the avio gear in those things is stone age or just awful to maintain.
Having said that they are sweet thing to get around in and can really grease the runway.Proviso ,as long as they are not a heavy -300 that climbs like a geriatric with lung disease.
There is a member here with the name "146's make me cry".
One could assume it is not crying for joy.
Love the nick though.