Hey Starktoons!
In theory, you can replace the arm rig with any type of arm you want. I would not count to ever have some type of customizer to just randomly select assets like gloves or a watch to put on your arms. Thats just not on the menue for Game Guru right now.
Replacing arms is tough rigging. I don't know how much experience with modeling software you have but its almost easier to animate a new rig and weapon yourself. Our resident user Bugsy does this as a hobby.
So, if you are still game, what you need is modeling software that has an animation feature. At the very least something like fragmotion that you can get for free. Now, an animated model is made up of vertices that connected build polygons and bones. To rig a new hand to the old animations you will have to add in your hand rig (the model of the style of hands you want) and assign the vertices match by match to the old bone structure. This can easily lead to distorted looking hands or floating polygons. However, if you are good at this and really pay attention you
can do it.
-Wolf