Fix, Replace or Upgrade?

I'm in a bit of a pickle...

After buying a brand new refrigerator to replace the dying "fire hazard" model with the door that wouldn't close properly... After buying $500 worth of linoleum to replace the floor of the kitchen... After refinancing our mortgage (from a 30-year to a 15-year, which saves us money long-term but increases the payments short-term)...

...Our stove dies. Dead. Gone. Kaput. The circuit board which controls the oven temperature, cleaning, etc. is fried. The total cost for the new part is $150 — not too bad... but it will take 10 days to get the part. Alternatively, we could replace the stove (which cost $300-ish new) with another cheap bottom-of-the-line stove. Or we could take the opportunity to upgrade. That means spending more but investing in an appliance that will last longer (the current one is only 5 years old), cook better and run more efficiently.

I'm inclined towards option three — consumer goods are priced at record lows right now, and as a wannabe chef I would love the nicer range — but the wife is leaning towards option one. Keep it cheap and upgrade later.

So I'm opening the debate up to the public and soliciting responses from friends and strangers. No fancy polls here... please comment below.