I got the jacket back from the tailor Saturday, and I'm happy with the result. She put interfacing behind each of the worn bits and you really can't notice. It is a casual, hairy tweed and it now looks fine. Cost - $15.

I'd also like to thank everyone for their input. Because of your responses I was able to discuss elbow patches, reweaving and interfacing with my tailor and get this thing fixed. I'm definitely NOT a DIY'er when it comes to this. I've been on XMTS for over six years and have probably asked for advice three or four times, and each time the members have come through with help.
Thanks again,
David