That original worsted wool, mana for moths hahaPlease post some photos, that would help.
My General rule is leave things as they are, unless it's absolutely necessary to repair.
For knit cuffs and waist, I match the thread and will darn them very discretely, closely following the knit pattern and it will take hours sometimes days depending on the amount of damage, I like to work while just listening to music or put on an old movie in the background to work by, and work patiently and steadily taking my time and enjoying the process.
Don't start until you know exactly what your plan of approach is, then follow through.
Maybe put some time aside when you're good and ready to do the work comfortably.
You can't rush art!! (seriously, it can wait!)
A yarn shop or knitting group might actually do a nice job repairing knit cuffs and waist if you can find someone who is handy with a needle and thread, and really knows how to knit. (Just a thought)
It might not be perfectly perfect as can be...but it will stop the runs at least...and looks ok from 5 feet away.
Cloth is another story, and if there's only minor moth damage I prefer to leave it alone 'as found' condition.