I'm just wondering if I'm better off buying a different cylinder.
Yes, if you can find a good clean cylinder for under $200 it will probably cost you less than getting your current one sleeved. I may be off with the my $200 but that will depend on who you take it to.
If you want to repair the one you have then Jerry is right take it to a shop that does a good job and uses a thick sleeve. If you are considering sleeving your current one, if you welded on it you probably need to check for warpage and depending on where the weld is you need to consider if the heat affected zone will make it brittle and more prone to cracking again in the future.
Having said that I've seen some pretty goobered up cylinders run pretty hard as long as the decks are flat and the cylinder is not out of round.