99 cherokee compressor smoking making noise
 

I noticed a smell today coming through the vents. It spells like burning plastic and my gas gauge its moving fast. The obvious conclusion is the a bad bearing or it is dragging. The question is should I try to rebuild it or buy a new one? A local 4x4 shop quoted me $385 for a new one. Should I risk having it rebuilt? Whats a good place to buy parts for these trucks?

also do they make a short belt kit to totally remove the AC?