Northeast MS is not exactly a hotbed of pool construction or pool supply houses. (It's also not my favorite state -- my wife's family ended up retiring there, and while I'm sure there are some pretty places in MS, I haven't seen any of them. But, I was spending my time more in the scrub land south of Meridian.)
The absolute cheapest way to fix your pump is to buy ONLY the parts you need, which probably is an impeller and a seal. But my guess is, you're not exactly sure how to get the right parts.
So, I'd recommend buying a NEW 2 speed pump, and saving the other one as a rainy day repair project, as a back up.
As far as the few hundred per year . . . yeah, you can do that easily enough . . . AFTER the pool has all the repairs it needs.
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