There may be local permit requirements or may not since you are "replacing" not upgrading or remodeling. Since they are overhead wires it wouldn't be considered terribly difficult however, with the legalities and liabilities it would probably be best to have a pro look at this one. See if you can have a local electrician give you a quote. It might take a day of labor and if I had to take a wild stab in the dark, maybe $2.00/ft for cable? hire an electrician. don't mess around with power. it can kill you Assuming you meet code and license requirements: wires and standards have changed a lot in 40 years. An overhead wiring assembly must meet specific insulation requirements, including sun and water resistance, as well as strength to support itself over the required distance. It will have to be properly sized to carry the required load at the typical ambient temperatures. The wiring will also have to meet other safety requirements such as distance to the ground (higher over driveways), roof, windows, proper supports and fasteners, etc. It will need appropriate over-current protection on the circuit, and any garage outlets may need to have GFCI protection (in an NEC country, or equivalent). There may be other local requirements, and they may want to inspect the entire system before you're finished.
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