No problem, Bill. :)
The reason I see it as less work was because the whole bottom half of the drum (bearing edge, strainer holes, butt-end holes, re-ring and one half of each lug hole) stays in place. If you kept the center mounted lug holes and cut 2 1/4" from the top and bottom, you would have to remove both re-rings, drill new strainer/butt-end holes and the vent hole center is 3 3/16" from the top of the marching snare bearing edge. After you cut the top, there would be a hole really close to the top bearing edge that you would have to plug. Removing the re-rings is not a quick and easy task either.
Jeff,
That's a very good question, Jeff. Using old marching snares/toms from the 60's is great, because of the cost. I got my complete drum with eight bowtie lugs, P-83 strainer, butt-end and top/bottom rims for only $60. The wrap was in very good condition before my screw-up, so I might decide to re-wrap, if my repairs don't workout. Otherwise, the only additional cost I would have would be shorter tension rods. So for around $80 and my labor, I will have a Ludwig Keystone badged Jazzfest replica. In fact, since the Ludwig marching snares used the same 3-ply shells as the Jazzfest snares the replica could technically be considered a Jazzfest, because everything on the drum is going to be factory Ludwig. Even though I don't plan on selling this drum, I have decided to mark/brand it as a replica to avoid any future confusion. Using a new Keller shell might not get you that Jazzfest sound either (3-ply Ludwig vs. 5 or 6-ply Keller).
Hope this helps.
-Tim