I really feel like this Manual, more so than the other two, got neglected in the correlation/curriculum revision and update cycle. Whereas many other lessons in the 3-year program contain quotes and stories from the 1980s or even some from the 1990s, this one is stuck solidly in the early 1970s. So, at the risk of sounding like a broken record: take this lesson's important core idea and build your Sunday presentation using more recent resources and supplements. Here's a good list:
Cheryl Lant, "Righteous Traditions" (April 2008 General Conference)
Ralph Rasband, "Our Rising Generation" (April 2006 Priesthood Session)
Donald Hallstrom, "Cultivate Righteous Traditions" (October 2000 General Conference)
L. Tom Perry, "Family Traditions" (April 1990 Priesthood Session)
I liked Elder Perry's talk a lot - he brought up the many feasts and ritual days built into the Mosaic liturgical calendar.