Thanks to all the members for the input. I decided to go with a new Atlas switch, but to repair the existing one for now. Have a relative coming to town this weekend and he will remove and replace the switch once I have made the repairs suggested.
I did an internet search (Charles Ro, Mr. Muffin, etc) and found the the O-72/O-54 switches are available on back order - a replay of the situation that I seem to remember existed when I purchased the first one in question five years ago. I will be at the York meet in a few weeks and will try for a the switch there unless I come across a new one on the internet.
Thanks again for the help.