The underground feeder line also looks in rough shape, I can see the outer covering unraveling. We have a lot of fabric (jute?) covered feeder lines installed in the 1960's that looks to be in the same condition now.
Who owns the feeder, the utility or is it a private line?
If it was here the utility usually replaces the line all the way back to the closest manhole or transformer, and not just replace the service head. A lot of times they also put in a new pole as they feel the pole is probably shot as well.