This has already been done for the Pulsar and the Synchronar. So this question is answeredcanito wrote:...Would all this effort make sense? .Does it really make sense to have an old watch with new century circuitry?...
The firmware is IMO the easiest part. Much harder will be to make the hardware fit into the case and integrate with buttons, battery holder, etc. The HP-01 isn't exactly a simple design. The Syncronar is primitive, the Pulsar also rather simple.