Control unit is probably pretty easy to replace (timer assembly) and you could most likely upgrade to something that has more functionality, it would just be a matter of careful research to ensure you buy something good quality that doesn't leave your PII all over the place. I would replace the housing at the same time with something that's a little more built-to-last
Overall I would be more concerned with the fuses. Electrical & rust is not a good combo. If that housing is leaking, definitely address that too. If you don't know electrical, hire out on that part.
I'm not a pro, just someone with a bunch of diy experience.