SSG,
As far as replacing the old valves...
If they still work, then why would you do that ?
Half closing Valves, is not good for them, unless the Valve was designed to do that.
You'd be amazed how water can cut a Valve seat and ruin the Valve, then, if you needed repair, you couldn't shut it off completely.
Besides the Thermostatic Valve you mentioned, here's a couple other things...
Put a second Valve in-line, and use it as the Flow Control, leaving the first Valve to shut the equipment off, when repair is needed.
Or, you could re-Pipe the unit, putting in a short smaller piece of pipe in-line, reducing the Flow, like an Orifice. You'd have to do some math on that, to make sure you didn't over/underdo it.
Again...
Unless designed specifically, Valves are supposed to be fully open, or fully closed, no exceptions!
My best offers.
Have a good Day !
S.W.