Not sure if that's the "proper" way to fix it, but it would work.
My father used to re-shaft clubs all the time while watching TV at night. It's not difficult. Go to a Golf shop or Pro shop and ask for a book on it. You can get info on repairing and refinishing the heads as well so you can restore the clubs almost indefinitely.
I've still got a set of 1967 Power Bilt woods that I LOVE the feel of. 
They're made out of that rare high tech material that you just don't see anymore.... Persimmon. 
Solid persimmon, not laminated, either. They rock. 
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