Replacement foam / tubing for Guitar Stands

I recently bought a guitar/display stand, from my local music store. I am hanging a special guitar, and I want it to be prominently displayed. They came up with this cool hanger, that mates up to slat-board, which I already have. They weren't using the hanger, anymore, and sold it to me for $40. I am guessing that it would cost at least $75 retail, for a new one. The stand is made by Ingles, who I have never heard of? It is very well built, and uses wing-nuts and a drum key for tightening! The only problem is that the metal hangers are covered with old surgical tubing. We have all seen the stuff I am talking about, amber in color, and this stuff is old, weathered and cracked. It is literally falling off of the stand. Here is what it looked like:

 So I searched all over the web, and eBay etc. looking for a suitable replacement. Well, I had a hard time finding any information, whatsoever, on replacement tubing or foam, whatever. I wanted to upgrade the surgical tubing to some good quality, dense foam, to protect and hold the guitar in place. Through my search, I was able to find a link to this:
http://www.mcmaster.com/#standard-rubber-hollow-tubing/=o9kdak
Its the product, at the bottom of the page, this one;

Weather-Resistant EPDM Foam

3/4"

1/4"

±0.039"

1/4"

4339T6

$12.19/6 ft. piece

I ended up buying 3 different products, not knowing which would work, best. The foam, above, was the winner. Let my research and extra cost $$, help you out! The diameter of the metal rod, that makes up most guitar stands is 3/8", I figured that 1/4" ID foam would stretch, for a nice, snug fit. I was right. I did have to use a bit of silicone spray, to slip the foam over the stands metal rod. Here is what I ended up with:

Sorry, the topic for the guitar that will go on this stand, will have to wait! Hope this helps a few guys out!