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I am working with a company that gets a significant amount of press, but often we do not get links from these articles or the articles do not have the best anchor text. Any suggestion, tools, or articles that help optimize this exposure to for seo benefits?

A website I recently was asked to help with was redesigned last year, but no 301s were setup. Looking at the old URLs 95% of the ones from early 2013 are 404s. Their traffic dropped from 50,000 per month to 10,000 and I believe this is one of the reasons. Now the question is: a year later, will it do any good to setup 301 redirects from those old urls. My current thought is that the old URLs have probably lost any link juice they had. But it should hurt anything to setup the 301s anyway. Any thoughts on whether this is worth my time and effort?