'Could have kept Incincible going for years'. On what? Brass buttons? I'd like to hear Muxworthy tell us where we'd get the spares and support to keep another carrier at sea? The three of them were always on the event horizon of unsupportability because of their obsolesence. The weapons and sensors fits were constantly needing upgrading, we were running out of engines, the aviation facilities needed upgrading for Merlin, the hulls were well beyond their service life ... need I go on?
Everybody understands the sentimental attachment to the Navy of yore, and the proclamations of the 'ohh, the Argies will be over the Falkland Islands, next', but the truth of the fact is the Argentines have better things to do these days, and their people don't really have the stomach to see their ships put on the floor of the South Atlantic by our attack submarines.
As for keeping old ships, imagine how much it would cost to run a 1977 Rover SD1 on unleaded fuel these days - and having to commute to work and back in it.