I have a project that I want to keep archived full of very old (1rst or 2nd generation) Cineform AVI clips. These still work on a Vegas timeline but are not very stable in media players.

Is it a good idea to re-encode these into the current Cineform format?

Since these files were encoded at medium quality levels (the recommended level at the time), would there be any advantage to upping this high quality or would that just be throwing space away?