My second attempt at creating a padded pinboard yielded far more satisfactory results. Adding a second layer of batting gave the board the extra depth I had originally desired, and although it’s hard to tell from the photo, in person you can really see the cushion effect.
I only ran into one little problem with the redo. The staples holding down the fabric came out easily enough, but when I went to remove the daisy-headed upholstery tacks, the cheap corkboard base they’d been stuck into began to disintegrate around the original holes. The old bulletin board wasn’t that substantial to begin with, so reinserting and securing the tacks became an issue.
I eventually hit upon replacing a few of the tacks with small screws, and adding washers and nuts on the reverse to secure them. Then I grabbed my toughest tin shears, clipped off the decorative tops of some of the tacks and glued those onto the screw heads using E-6000. It’s impossible to tell the actual daisy tacks from the screws now.
I’d already inserted anchors and screws into the wall, so all that was left was to reattach the picture wire to the back of the board and hang it up!