Go here
http://www.kennsplace.com/pfaff_mail_a_repair.htm I was quoted a minimum of $500 and upwards of that to fix my 1222. I mailed him my machine about 3 months ago and he's still got it as there's a component in the foot control he's having problems with. But, it's being fixed as good as new for $189 plus my cost to ship it to him. I know one lady who told me she was VERY happy with her machine when she got it back. I'm still waiting for mine, but this is something to consider!
The 1222 is supposedly one of the BEST machines made by Pfaff and because you are sentimental and want to keep it, this may be an option for you. I have to tell you that for $300, you would be hard pressed to buy a decent machine. Especially for doing jeans. The machines at that price point would just not compare to a Pfaff 1222. I would imagine you could have a close to brand new Pfaff 1222 for about $200 and personally, that's the way I'd go.