Wow, it's about time the Bakerloo line got some new rolling stock. It's still using stock from 1972. Even the Picadilly line's '73 stock is miles better.
The Bakerloo is pretty low down the list of an upgrade, apparently. Counter-intuitively this is because the trains need substantial refurbishment within the next few years - unfortunately this will be necessary before new stock will become available, so it makes sense to refurbish and then run for longer.
Covering it in gloop is probably better than closing the line and removing the asbestos.
http://www.ibtimes.co.uk/asbestos-london-underground-tube-rm...