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Problem solved. The bill would have been too high, asked another garage (non Porsche dealer) and they came to same conclusion about what repair was needed and even being cheaper it would have cost me over 10k.
Sold it for export and spare parts, broke my piggy bank and got me a 2005 S 3.2 model. What an upgrade, going from a rough machine to luxurious one, power just fabulous, interior all leather, sport seats, Navigation system, bose sound system, very very well kept machine.... and a real rear windows.
Hope that one will not let me down.
Thanks everyone for the replies to my post.
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