40mhz equipment is still available new, in the UK. It's distributed by Ripmax, but the range is very limited to around a couple of sets- the F14 and F14 Navy. Development of new 40mhz systems largely stopped over a decade ago, so the sets are basic in comparison to current stuff. However, most model submariners don't need much sophistication, just plenty of channels.
http://www.ripmax.com/Category_List.aspx?Category=060-010-030Still quite a bit of secondhand gear floating about, although prices seem to have crept up as sellers have realized why many are buying it. I understand many want a new set for peace of mind.
Do be aware that most equipment is repairable, and there are still good technicians out there that will fix things if you're unlucky enough to have something fail. Some synthesized tuners can be a bit of a problem I understand, owing to manufacturers applying their own codes and not putting them out in the public domain. Bit of sad state of affairs when they themselves no longer support repair.
458mhz UHF has a lot going for it, but will never catch on with the majority because I think it is just too geeky. Most modelmakers want a radio set-up and ready to go from the box, not something they have to fiddle about with in a chrome app.