Our company recently redesigned a weekly publication and in that design we used a font called Sans Serif FLF - http://www.moorstation.org/typoasis/designers/casady_greene/r_z.htm - as a major part of it. Headlines, the logo, and many other features.

The problem is, we are dropping our old Type1 font library and converting to OT. We have found out since then that this foundry is no longer in business and there's no more support for this font. This leaves us with 3 scenarios that I can see:
1) Leave the font as is, keep using the Type 1 and hope it lasts with no compatibility issues.
2) Convert the font with a 3rd party program to OT. Is there any way to quality control this or just hope there aren't any reflow issues? Also continues us using an unsupported font.
3) Redesign everything associated with the font with something we have or is readily available. Problems with this is we lose the identity we just created with the old font and also trying to figure out what font could be a suitable replacement and give the same feel.
Suggestions?