That'll do.
As for replace, repair or upgrade there are a few choices. I prefer the upgrade path as some or most of the cost of an upgrade is already accounted for in a repair or replace.
For repair there is an aftermarket journal bearing option, an aftermarket ball bearing option, a genuine chra option, along with a few billet wheel aftermarket chra options. These can be easily replaced at home. You could take the turbo to a turbo specialist and get it repaired. There was an advertiser on this site a while back offering repairs and upgrades. From what I gather any repair is using an aftermarket bb assembly but I'm not a turbo shop guy so I'm not 100% on this.
Replace is pretty straightforward. You track down a stock turbo and replace it. GCG turbos do a stock replacement. You can replace it with a used turbo. I wouldn't bother with 2nd hand myself but if the shoe fits then it can work.
Upgrade is what you make it. The best cheapest option to upgrade is to drop a gtx supercore in. This could involve hotside intercooler piping replacement, fresh air piping/air filter replacement and obviously tuning in any case of an upgrade. There is a bolt on gtw3884r upgrade available from a couple of shops. Then there is full aftermarket upgrades of which you'll find details in the 500rwkw+ threads.