If you are patient you can easily put together a good compressor. Do you have any information on your pump you have? Single or two stage? Brand and model number?
If you keep an eye on craigslist you can easily find a compressor with a junk motor or junk pump and steal the tank, switch, plumbing from it for pretty cheap. Then you should be able to find a used motor for a decent price. Just have to keep your eyes open. There are a lot of compressors out there that guys don't take care of or the pump/motor burns up and they buy a new one and get rid of the old one for cheap to nothing.
If you have a good pump that puts out a lot of CFM than it would be worth it to stick 100-200 bucks into a used tank, motor, plumbing to get it working. If you pump is nothing special than like mentioned it probably won't be worth sticking money into. My pump I have sells for almost 700 bucks new so I would have no problem looking for a used tank and motor if I came across a pump like mine.