Problem is, what then?
Let's say we spend all the dough to restart the lines...make new tooling, etc. Shall we then just build the same outdated airframes? Or should we start using new composite materials and engine technology? Obviously, we should use the newer gear and materials.
Then, what about the electronics? FAR better stuff, in both comms, ASW, camera, and ESM now exists and can be built completely integrated. Do we ignore the last 20 years of advancement and use the old stuff? Why use a mainframe computer of 1970's vintage, taking up 1/8th the available area, when we could use a laptop to run the whole show? Why use reel-to-reel recording media from the '60s when we could use DVD-ROM technology?
Eventually, you come to the point where you ARE building an entirely new aircraft. Which you should.
The P3 turbo prop configuration is the most efficient airframe for the mission. It can be onsta within a few hours with it's cruise speed of nearly 400kts, but it can also loiter at very low airspeeds which is a requirement for surface interdiction and ASW. As far as I know the ASQ114 data package was replace years ago, and they did away with reel to reel before I got out in '91. The aircraft has been completely integrated since the late '60's. If the design aint broke, don't fix it. This could save quite a chunk of change in development costs.