* For an example of refurbishing an old paperback cover, consider the cover of Peter O'Donnell's I,LUCIFER from 1969, featuring British "danger girl" Modesty Blaise. I had seen this item on old bookstore shelves and one day got to searching on the Net to see if I could find a scan of the cover. What I found was this:

Refurbishing this cover seemed practical, but challenging: not only was the cover old and faded, the image wasn't even a scan, it was a photograph taken from an angle off the vertical, resulting in slightly skewed perspective. I was intrigued, wanting to see what I could do with it. What I ended up with was:

I went through the following steps:
In the case of the author's name in yellow, I was able to repaint the existing letters by performing zoom and paint operations, drawing pixel by pixel. I started with the rectilinear letters like L,E,T; then did the letters that had curved corners like P, O, D -- once I'd drawn one corner right I could copy it to other corners; and then did the letters with sloped elements like R,N,y, which took a bit of hand-drawing and copying of strips of pixel shading.
The title I,LUCIFER was a particular challenge. I couldn't find a perfect match in the Paint set of fonts, and there was only so much modification I could do with the closest approximation before I wrecked it. I managed to come up with something that looked somewhat like the original, though the differences between the fonts were obvious if the before and after covers were placed side by side. I didn't think I could do any better, but a day or two later I looked it over and thought: hmm, maybe I could do a bit better -- and to my surprise I could. Now it takes more than a casual glance to see the fonts aren't quite the same -- the "e" is the giveaway.
I picked this cover as a example because it was one of the tougher refurbishing jobs I've done. More often a cover just needs some general cleanup and a few tweaks. I was obsessed with this one, I almost dropped everything else until I got it done to my satisfaction. Purists may not be happy with the liberties taken with the fonts, and the fonts also look a bit unnaturally crisp or "digital", but I have to judge those issues as necessary tradeoffs involved in the job.