Why not rework the lock yourself? Will you be out anything if you mess it up?
Working on these cheap locks can be a real learning experience, so go for it.
I'm not personally familiar with the lock on the Ped Kentucky, but generally speaking,
IMHO, the only real problem with reworking Ped locks, that I am aware of, is not knowing the composition of the steel in the internals...in the event you decide they need heat treating.
In my limited experience with Pedersoli locks, in general, the geometry is pretty decent on most of them. However, the execution leaves a lot to be desired.
In my experience, if this lock is a flintlock, the frizzens are case hardened mild steel. Pack hardening works wonders on these cheap frizzens. As an alternative, there may be a frizzen, made of through hardening steel, that can be used to replace the original, if you decide to go that route.
New springs can be made or the old ones arched to increase/decrease tension, and the fits of the internals tightened by welding and redrilling holes, inserting bushings, or making oversize screws.
Again, if you should happen to mess it up, just buy a replacement from L&R, or check the fit of a Chambers Late Ketland or one of Davis' offerings, though they may need some modification to fit properly.
Tracks catalog has life size photos of the products they sell. Lay your lock over the photos to get an idea of which lock might be a good match, being aware that the location of the sear extension and the center of the pan are critical dimensions in lock replacement.
Good luck and God bless