If you do want to keep the original format, there used to be (and probably still are) little plastic discs that can be put on the paper as a reinforcement (they surround the hole). This will take *just* this side of forever to get done, and are a temporary fix at best...I personally support the idea of going to multiple volumes. Another thing that I do is keep them all on my computer, with multiple back up copies on disc.
In any case, multiple volumes might be the way to go. I'm moderately anal retentive and have not only split the volume, but have it on disc alphebetized with a table of contents...
Good luck.
M