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Yeah.. don't try to fix it - it's not worth the cost. You might try sending it in to Canon just to see what they might do.. My Canon S2 stopped working and it was a 2 year old camera... I had even bought it used but I sent it in to Canon just to see how much it would cost to fix. They sent it back to me fixed for free in 3 days... and they even replaced the sensor and did a firmware upgrade. you have nothing to lose beyond shipping costs....
Even if you get a new camera.. its a great camera to have for backup.. especially since once you move to a DSLR.. you lose your ability to capture video. I use my P&S camera's primarily for shooting quick video for my blogs... its much simpler than pulling out my Digital Video Camera for the quick stuff!
Good Luck!
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