Dont go chucking that away just yet, I do beleive it can be saved.
I have worked out a method for fixing those right up, and I happen to have an eaqually sun-damaged one sitting on the shelf at home, so tonight, I will restore it, and take some photo's of my method in action, then post the outcome and some instructions.
It's reasonably simple to do, and should come up quite well, giving you the option to stick with the original air filter.
Those upside down 60's ones are tricky to find, it's always a good idea to save them where possible.