Phil
Firstly - Hi and welcome to the site. We have a growing collection of Mk1 Cabs residing here now, so there really is a fantastic pool of information at your fingertips. Hopefully you'll stick around.
Personally, having owned, driven, rode, or flown in most things, I can honestly say nothing puts a smile on my face like my cab. So the thought of getting rid of it would never cross my mind.
Things can only keep going wrong upto a point. Then, everything that is on its last legs would have been replaced.
Admittedly, I have spent as much on the cabs cosmetics and repairs, as I did buying her to begin with. But, we all need a hobby!
As for the Horn, It sounds like you have a short in the +ve feed from the horn button, to the horn itself. In which case, I would be tempted just to put a new wire from the back of the horn push, to the terminal on the horn.
Hope you get things sorted
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