Just replacing the cone,dustcap,surround,voice coil,voice coil former,dampener. And sometimes re-magnetising the magnet,if the voice coil has de-magnetsied it when it blew.

Re-foaming or re-rubbering a speaker.Can be done to old vintage or
any old speaker where the foam has rotted,only if this is just the problem and it's worth the hassle and money.

So example,you can re-foam an old vintage speaker which is rare to get hold of,and costs you much less than buying another new loudspeaker of the actual specs the damaged on had.

I have refoamed 3 sets of drivers and they sound just fine. I got foam kits for the specific drivers and all seams well. I think its a good option if the foam was the only problem. Agreed that recone is about 1/2 the cost of new but that is not really true depending on the drivers. Some of the recone kits are more expensive than you can E-Bay the drivers for. An example are LE-14A's. I got a mint pair for 125+50 shipping so $175 for the pair. That is the cost of a single recone! You really have to shop around and with many drivers recone is not an option. Not everyone has the depth of support for their drivers like JBL or Altec. Just try to get a replacement Infinity Driver for a 1970's-80's system, Good Luck!

Take care,

Steve