I would leave it as is. When you get to that level of scarcity and desireability, a $150.00 repair does almost nothing to enhance value, but may be a turn off to a major collector who wants it original. All glovers know they can get a glove relined. Now, if it was a Heart of the Hide Mantle glove or another super desireable glove from the 40s or 50s, I would get it relined if the lining was trashed.
As far as bats are concerned, I have nooo problem with store model bats that have been restored by a master like Fred Lowman. The value is definately enhanced in the eyes of the majority of bat collectors. Game bats...no. Who wants a store model bat with electrical tape or screws holding it together when it could be returned to near new condition. I don't mind character or wear, but missing pieces or disfiguring cracks are not acceptable to me.
With regard to that snipe, don't kick yourself because it went for $147. That was just the next bidding increment after your high bid. Hell, he may have left a snipe for $300 on it.