After about 5 years of faithful service, my collection of saltwater plugs was looking sad. One fish lost to a hook that snapped off, a little too much metal gone. Time for new teeth.
Is it worth the trouble for a few lures? These are good sized lures, $10-$15 each for 8 of them, so yeah, time well spent. About $2 for the hooks and 15 minutes work, they should serve another 5 years. It's also good to inspect the rig, trim the end off, and tie new knots.
Other lures are generally just replaced. Jigs are cast in one piece, and generally the skirt goes first. Blue fish hose eels are generally too chewed up to worry over, and the stainless hooks last forever.