Wall radiator valve problem

I have a 6ft radiator recessed in in the wall of my basement. It is not cast iron but the type with fins. On one side vertically leading to the radiator is a shut off valve then a spigot then another shutoff valve. (The spigot is in between the 2 shutoffs). I would like to replace the whole setup because it is very old and leaking. Should I replace it the same way or is there a better way using a bleeder type fitting or something similiar.