Thank you all for a very informative and invaluable help.

I build upon the original first advice by Cletus, and this is what I did, after several month of research on new materials, to a bellows with several pinholes around the four corners (mainly on the front standard and back; where most of my 8x10 movements are made) The bellows were clean and sound except for the pinholes -the weakest link on all bellows.

The goal of the repair was to reinforce the "weak" areas where pinholes develop and in the process make the bellows worry free for a long time.

Materials used:

1) Liquitex Black Mars acrylic paint ( The cheap one artist loft works the same as the professional line ) US $14 dollars
2) Kevlar cloth T9-1094a from Warwick Mills in NH USA. This is a very light thin fabric but very difficult to puncture and cut; use ceramic scissors to cut. 12 x 60 inches free sample
3) Permatex Ultra Black gasket maker for the larger holes. US $6
4) Comp-O-Stik adhesive Hockey Tape Black. US $5.49
5) Perfomix plasti dip spry can mate black. $11
6) Contact cement. already had it
7) Alcohol sold on CVS pharmacy. already had it

- First I patched the larger holes with Permatex and a needle, about 3 holes. spreading the remaining on the bellow creases.
- Second step was to paint with Liquitex acrylic paint a thin coat along the bellows four corners front to back, about 1 inch wide. I use paint masking tape to keep it straight and clean.
- Third, I painted with Liquitex the Kevlar fabric which the paint permeates to both sides (the purpose here was to make it a "little" light proof but not completely or it would add to much thickness.
- Fourth, After everything was dry, I taped the Hockey black tape to the Kevlar fabric. even though the hockey tape has a backing adhesive I use some contact cement to make it permanent.
- Fifth. Applied contact cement to the Kevlar side and with the bellows stretched out, carefully tape the bellows.

Before applying the hockey tape - Kevlar combination to the bellows, I did some testing with a left over piece. I hammered it against a wood block, flex it many times, stab it with a knife,
use a heat gun. test it for abrasion against a stone and a filing.... yes i finally puncture the thing with a nail and harmer but it wasn't as easy as with a regular piece of bellows...

The thickness of the strip of hockey-kevlar sandwich was very thin (about .27 mm if memory serves me well) and if anything gave the bellows more rigidity without sacrificing movements.
As someone mentioned earlier here, I think the bellows will fall apart before this repair does.

A few notes. one of the reasons the kevlar fabric is protected by acrylix paint is that Kevlar is sensitive to UV light; i.e. the sun will deteriorate kevlar strength over time. Also the hockey tape will protect it.

For me the cost of this repair was justified in part because a new Bellows costs over $170 dollars doesn't make economic sense to me if I can repair it and is structurally sound.
Also these new bellows are made with water proof nylon material and nylon will deteriorate over time.

How come the bellows makers are not using new or not so new materials like Kevlar or Nomex etc... ?

Well I just wanted two add my two cents here

Best