I've also taken a rotting wooden basket like that and just placed it into another wood basket. I'd go a couple of sizes bigger, to give the roots room, and let those wild roots keep on coming out through the slats. Fill in any gap between the old and newer basket with orchid bark.
But then, I just really love the look of the slat baskets, and I like the amount of air they let in, as well. With our high humidity and heavy rain in summer, you can't have too much air circulation.
