Avacado - To graft or start from scratch?

We have an avacado tree in our yard that was started
from a pit by the previous home owner. My neighbor advised me 17 yrs ago when
we moved in, to rip it out, start with a nursery specimen and be done with it. Well, I hate cutting down trees, so we just hung in. 2 yrs ago we did get
some fruit, I would say perhaps 20 avacados. But they were not that great. Sort of gummy.
Now I'm seriously considering starting from scratch and taking it out, once the summer heat has subsided.
Has anyone had experience with grafting this type of tree with any success? Or should we just bite the bullet and start new?

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