Anthony,
You didn't mention if this was an insurance claim. If so my conclusion is the same as all of the bike shops; new bike. But you may be able to file the claim and get compensation for a new frame and the cost of a rebuild for about the same amount of money. In the bike shops liability is always an issue so new is the answer. But you may get around that by using any cash to restore the old bike. JMHO, MH