i would definately invest in a new bow....
bow, site, stablizer, arrows, broadheads, wrist sling, release, arrow rest, quiver, case...
look at spending somewhere in the neighborhood of $500. but a good hunting setup will last forever if you want it to. but like anything we get into we always seem to have to have all the "new" bells and whistles that come on the market. man if we could only live by the saying "if it ain't broke don't fix it", but then again that wouldn't be any fun now would it? LOL