Telfel GV8330 steam generator iron?

I bought this item in September 2008. I use it about once or twice a week. As there is just the two of us, I don't have a mountain of ironing so I would say it's probably had little use for it's age. My problem is that the steam stopped working & even through the iron got really hot, it did not produce any steam. I have been given an estimate of some £50.00 to put it right. I would like to know other peoples opinion as to whether I should have it repaired or put the money towards a new iron. Thanking you in anticipation.