It really depends on your mechanical skill set. As long as you didn't bow anything up parts like new rings bearings and whatnot aren't too expensive if you can do the work yourself. If you blew a rod and smashed the piston into the valve head (see pics in the other thread just posted) it could get pretty expensive. What you have to weigh is the cost of the parts and labor against your financial ability to cut your losses and put the money you would have spent into a new bike. If you're paying for a mechanic to to the re-build it could easily get into the thousands of dollars.
Again you need to at least be able to tear it down and asses the repair before making any decision on scraping it.
No more Vulcan
New ride 2012 Victory hammer 8 ball
Stage 1 with Cobra 2 into 1 exhaust.