Someone gave me a Digilux 1 that needs repairs costing $150.

The problem with it is that the lens does not extend anymore when powering it on. My concern is whether or not it is worth repairing. I have a Canon S2IS and a Lumix DMC-FZ50, so I'm not hurting for a camera, but thought it might be a cool little camera. If I get it repaired, I plan to try to use it on panachallenge.com's photo challenges to see if it can compete with the newer cameras. Any thoughts?