110 hubs help

I have one of these that came with the frame- but to be honest its pretty scary looking, and it rattles about in the dropouts (would need some spacing out). I guess id need to give it a refurb as it looks and feels disgusting right now...i was hoping there would be an easier + new option...
god, i hate to think what you're going to do to a nice vintage holdsworth track frame. that shitty hub is worth £20 if it is an airlite (and not bashed) ;)