Many cyclists waste money replacing perfectly functional tires simply because they're old, or may have discolored sidewalls. If you just want new tires because the old ones look grotty, it's your money, but if you are mainly concerned with safety/function, there are only two reasons for replacing old tires:
- When the tread is worn so thin that you start getting a lot of flats from small pieces of glass and the like, or the fabric shows through the rubber.
- When the tire's fabric has been damaged, so that the tire has a lumpy, irregular appearance somewhere, or the tube bulges through the tire.
Cracks in the tread are harmless. Small punctures in the tire such as are typically caused by nails, tacks, thorns or glas slivers are also harmless to the tire, since the tire doesn't need to be air-tight.