I love those old tube radios, so please don't consider them to be "off topic." Maybe they are, but I sure do like 'em. Check out my collection of tube radios.Also, watch the site called "www.AudioRoundTable.com" in the next month or two, because there will be a tube radio forum there, which will a great place to discuss things just like this. It is very much like this website, having several discussion forums, one of which is for vintage radios. So please post pics of your radio there when you can.
About repairing your radio - You can easily swap out the speaker, but I'd prefer not to do so. I suggest one of a couple of things: Either look for parts on eBay or have the speaker reconed. You may be able to find something that will work - A lot will depend on the voice coil size. So check on eBay and also measure the physical dimensions of the voice coil and call David Miller at Speakerworks (918-664-6299) to see if he has anything that will fit.