Stanley....I have actually taken on the task of recovering a seat too. This would be for the 1975 Cub I'm restoring that had the factory pan seat with 95% of the original covering. It seemed to be a (forgot what it's called) "hatched" type rough vinyl (little squares) that was silver or grey in color. After debating...I'd rather go with the vinyl becuase it has a more cleaner look than the duck canvas....plus it is more weather friendly and easier to work with when reupholstering.....seems like it at least.
I went into the fabric store here, and noticed that they had black and white vinyl. I don't know if you can get other colors or not; but since I have a yellow and white cub, I'd like to do either Yellow & White vinyl, or Yellow & Black vinyl.....maybe even have the "IH" logo or "Cub" sewn in it somehow.
How did you open up the lip? I ended up using a hammer and chisel. It worked great, but ALOT of hard work!!
As hard, stiff, and strong as that metal on the lip was; I'm surely not looking forward to closing it back up when it comes time to install the new cover!!!