Foam rot is common with old drivers. However, replacement kits run around $20 a pair and modern materials will hold up for at least 20 years.
Absent physical damage, speakers are long-term stable products and can usually be repaired.
As for the AMTs, replacement diaphragms are still available for around $100. Though my pair still has the originals which are pushing 40. No, they don't need subwoofers. They have 10" woofers, but ones that are from 1972 and not terribly good by today's standards. The good news is that you can buy modern 10" woofers and replace the old ones. I have a pair of replacements, but haven't put them in yet. Mom'n'Dad use them all the time and don't want them taken out of service. I might trade them for the ProAc clones; we'll see.
The only speakers that are really touchy with age are electrostats. The high voltage is tough on them and they deteriorate. But if you buy old electrostats, you know what you're getting into.
Placement really depends on the speakers. Each pair is different. I have the ProAc clones about 8' apart, 1' from the wall and toed in at my shoulders around 6' away. That would be different if I were running other speakers. The ribbons are really particular about placement. It took me several days of fine adjustments to get them where I liked them. Don't worry about it too much. Just keep moving them around until they sound right. A few inches or a little rotation can yield surprising results. And it doesn't cost anything to experiment.











