I do not have any experience with using metrics for this myself, but the
article
"Software Maintainability Metrics Models in Practice" discusses
more or less the same question asked here for two case studies they did.
It starts with the following editor's note:
In the past, when a maintainer
received new code to maintain, the
rule-of-thumb was "If you have to
change more than 40 percent of someone
else's code, you throw it out and
start over." The Maintainability Index
[MI] addressed here gives a much more
quantifiable method to determine when
to "throw it out and start over." This
work was sponsored by the U.S. Air
Force Information Warfare Center and
the U.S. Department of Energy [DOE],
Idaho Field Office, DOE Contract No.
DE-AC07-94ID13223.)
