Replacing cores is a costly affair because of cost of tooling, cutting etc. As others have pointed out, condition assessment is vital for the replacement decision.
If your m/c has hot rolled core laminations, then replacing them with cold rolled (CRNO) laminations, which have lower iron losses, may sometimes justify the cost.
In a case of a 40 pole, 50 W generator (which had 4 sections), the customer decided to replace one section of the core which was badly damaged due to winding fault. But when we opened up the other sections just to check, we found entire laminations were rusted right from the teeth to the back iron. So, we replaced about 50 tons of laminations, which was a costly and time consuming affair.
Of course, one advantage was, new core was CRNO (as against original hot rolled) and we eliminated all the section joints / vertical splits.
Generally, core initiated faults are rare and a healthy core is reused since the core plate varnish has a higher temperature capability and hence longer life as compared to the windings.