A lot depends on the overall condition of the gun. Wood, blueing, etc. If you had the chance to buy your gun, like-new mechanically, for $550 would you buy it? Also, you need to factor in any sentimental value.
I shoot an XT---over 100,000 registered rounds and I THOUGHT it needed re-building. It did need a new firing pins, spring, lever spring. I had that done at the Grand a few years ago for $45.00. I thought my gun was worn out because it started partially opening upon firing. What actually happened was that I took the gun off the stock and soaked it overnight in solvents and gave it a really good cleaning, then re-oiled it. It opened. When I blew the excess oil out...and it was not much....no more problems. You know YOUR gun but it may be better than you think. I agree with above send it to a good smith NOT BROWNING and see what they say. Doug Hubbart has done a lot of work for me and friends. He is very good, reasonable, and quick. I'll dig up his number if you like.
I'd get a second opinion before you sell the gun off. This will entail sending the gun to Doug, Art's, Skeets. All 3 are very good. I'd drop the farthest one from my home right off the bat, Then I'd call the other two. I then would send the gun, to one of the these two after talking to both. One of the 2 may be really backed up, and that my make up your mind for ya. Go with your gut feelings. break em all. Jeff
So Doug got got back to me, $340 plus shipping. This probably a very fair price for quality work,though I can't see it being worth the investment. No sentimental attachment to this gun, see what the other smiths say, but, lookin grim.