Hi Stu
Wish I had seen that holster first

LOL Congratulations - and what a buy !!
Maybe I'll find one in Baltimore (?)
Most of these double frog holsters seem to have both a shoulder strap and a belt loop to carry in either fashion. Since most people are right-handed it would make sense to carry the pistols with the butt stocks positioned in the same direction, for the quick second shot. Just my opinion.
If it were mine, I would probably repair the stiching, but not go much further. Maybe a good quality leather cleaner/softener would help. But I don't know what it would do to the coloered, decorative stiching on the front. Go carefully.
By the way, there should be some stiching down the middle of the holster to keep the pistols from touching one another. Maybe it's come loose ?
Again. great find. These are difficult to come by without the pistols in them.
I'm still looking.
Rick