Well I usually get a new one every 1 - 2 years. I sell my old one to offset the cost of the new one.
However I may just keep my alleginace for a while.
If it were me I would upgrade to a new bow. However I wouldn't do it until the season is over since it is so close right now. Heck, some are already hunting.[:@]

Keep it for this season and upgrade in when the season ends. Besides you can usually find some real good deals on some brand new bows from the previous model year come Janruary and February. Just like cars.