Need to finish important album ... time for new Mac?

Hello everyone,
my MacBook Pro of mid 2008 recently died on me (**** MAD). It died last year, and has really put a dent in my progression as a musician that records.
I have recently gotten some extra money and I am itching to record this important next album. I can either fix my older MacBook for around $300, or buy a new iMac for $1k.
When my MacBook Pro broke down, I could still make some great music with good reliability, .... but not the best. It started to choke up with a number of tracks and effects. I had to get around this just closing the bare min of apps and just keep going. I just dealt with it.
I am trying to decide what to do. I want to spend as little money as I need to, while ensuring that I am back in the Mac OS strong for years to come.
All my songs are in Logic, more done than starting fresh with a Windows machine, which I have. I was thinking of upgrading my Windows machine for about $300, but I would have to record all over again with an app I am not familiar with.
My question is > Should I repair my older MacBook Pro for around $300, or just get a faster new iMac for $1k, so I can WORK?
Thanks,
R

No Rick I didn't get the AppleCare. Didn't think my Mac would die RIGHT OUTSIDE the included warranty, but it did.
Thanks for all the replies. Wow, people really do swim around these forums.
I think I am gonna get a new iMac. You guys are right, my career and work are too important to skimp a few $100 dollars on.
Or it might be a few grand on. I was thinking of the base model. But for $500 more I get a faster processor and more drive space. But if I got the smaller one, I would just connect another bigger monitor to it. Any suggestions?
And should I get the Apple Case?
R

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