Ryanz,
A Lokar E-brake handle would not be a good choice. I have one on my '32 Ford roadster street rod and there are 2 things about it that I really dislike. First, it has 2 separate cable pull clevises that don't balance the force of the pull nicely like your OEM setup does. They can be adjusted but even that is less effective than your 80 year old E-brake cable design. I know how well your OEM setup works because I have the same thing on my restored '36 Chevy pickup. Second, the Lokar ratchet is very coarse so when you pull the handle one ratchet stop is not quite tight enough to hold the car on a hill and the handle can't be pulled far enough to reach the next ratchet tooth.
Lokar stuff is beautifully made but this particular item doesn't work well because of the coarse ratchet.
I would second Joe's suggestion. It should be easy to do.
