Repairable?

I recently inherited an adorable Coach bag from my grandmother. Unfortunately it seems she didn't take very good care of it. The leather straps and piping are beyond moisturizing and are cracked and flaking. Luckily the suede is still supplements and the front leather panels look good. With Coach offering repairs, I'm sure it will need new straps and unlikely they could even replace the rest. I'm afraid the fee to do this would be way out of my budget.

I am a skilled seamstress and know some leathercraft as well as knit and crochet. Basically. I have skills that might aid me in repairing it to a useable state. But, at that...how would such visible mending on a designer bag be viewed? I see it as the bag is simply too unique to not be used plus, well, it was my grandmother's.

My question is should I go to Coach or just...I dunno, make it my own?