I'm tight with a dollar (I steal dead leaves, for crying out loud) so the thought of replacing 150 feet of fence that was not in danger of imminent collapse seemed wasteful. On the other hand, how much longer would it be before the rest of it needed replacing? Plus, our old fence had only one gate, which was conveniently placed as far as possible from the crawl space/toolshed, which meant that if I wanted to work in the front yard, I had to either drag my implements all the way around, or toss them over the fence and hope no one was standing on the other side. (The neighbors have small children and I have a pitchfork, so there was the potential for an awkward situation...)
Aesthetics and convenience won out over money, and now we have a brand new fence that cost slightly less than an organ transplant, but does look fine.
For the last month or so, I've been expanding my border along the fence line. Just for fun, I dug out my photos from July 2005, before I planted anything, to compare with how it looks today. Check it out below.

