Is it keeping your house warm currently? If so, there's likely little reason to change out your entire ductwork. You can wrap the bubble foil insulation around metal ductwork and duct staple and tape it in place.
My other house that I heated with my boiler was built in 1875 and still maintains the original windows. I did replace all of my ductwork, but that was to get rid of the ancient oil furnace and install a heat pump system. I built my plenum to fit a 22x22 boiler coil at the same time and my FIL designed the ductwork to keep air velocity constant through all vents for a very even heat/cool throughout the entire house. He used flexible insulated duct throughout the entire attic for the upstairs and metal duct in the basement with no insulation. The supply and return trunk lines through the pipe chase into the attic are also insulated flexible duct of some enormous size like 12" or 14" ID but that was because it was easier to drop it down through the two floors from the attic since there's no access into the pipe chase from the living floors. Even just paying the materials cost at cost through his (very large) company and him installing it all for free, it cost me nearly $1000 in duct work. If what you have in place is currently heating your home sufficiently and you're not going through a significant amount of wood more than you really should be, I'd keep the money in your pocket. You can wrap that foil insulation over your ductwork if you want to see if that helps.