First, my business is located in Highland Mills, NY.  (Check out the web
site for more info).  Second, no I haven't tried foam rubber, but our
felt is industrial and made for covering pianos without having any
floating hairs about.  Third, we use industrial Velcro - not the stuff
from your local fabric store.  Industrial Velcro will work infinitely
longer than commercial - if it goes within 20 years (and if I'm still
alive) I'll replace it. As far as duplicating the original - Velcro
wasn't invented until the 1960's - I bet innovative piano makers would
have at least tried it.
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Charles Flaum, RPT      CMF Piano Accessories
cmf@infi-net.com        www.infi-net.com/pianostuff
1-800-792-4457