Er, combination of typo and brain fart on my part. The house was built in 1975, which makes it 33 years old. The plumber used the 40 year figure, I guess he was rounding up.
He did say that "M" copper is rarely used in houses these days, and that most places use the thicker "L" or even "K" grades.
That seals the deal, then. First find a different plumber -- that one either doesn't know s--t, or figures that you (and your friends here!) don't know s--t.
There's no way that 1970s plumbing, let alone early 1960s plumbing, should be failing in that way, regardless of which (pipe) wall thickness was used.
Somebody in the past has left the house unheated for a week or more, and the pipes froze, causing them to develop cracks (as shown in your photos).
Find a modern plumber with PEX experience and prices, and enjoy some healthy water afterwards.
Cheers
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