the Bakerloo's 72 stock is worn out and the Central Line's 92 stock seems to be unreliable or taking forever to refurb - why not use refurbed 92 stock on the Bakerloo and bite the bullet and order / lease new stock for the Central?
Not sure how easy it would be to achieve compatibility with the 1990s Central Line signalling system. If this would be a difficult and potentially expensive piece of work then it would kill any business case.
Fleet replacement on the Central Line is going to be a headache when the time comes as it will likely have to be coincided with resignalling. The nearest we’ve come to that in recent years has been the Victoria Line, but having to interface to a 1990s system may well be more challenging than a 1960s one.
Getting 92 stock to work in a 7-car formation might also present some challenges.