thanks for all the replies. I ended up finding my solutions in tooth pick and wooden dowels. The tooth picks really surprised me. I'm not even messing around with trying to fit the original pegs back in, I'm just laying waste to them and replacing with those handy teeth cleaners.
I may be a little late to respond, But if you take a small lego pipe ( what the lego minifigures can hold in their hands ) , you can push it into the hole where the peg was, and cut to size. This tends to work perfectly for me.
Another question about limb switching: if the parts don't fit well together, say the disc is too large, do you usually grind down the disc or the opening in the limb?
They're dirt cheap at the craft store. For the smaller pins you can use kabob skewers from the grocery store. If you cut the dowel a bit over length and either sand it down, or cut it with a sharp blade, you can get the dowel to contour with the figure so it's virtually invisible after painting.
I hope it helps