I'd get it repaired. One of the reasons you paid $310 is the warranty. Use it. The bolts seem like a minor thing. If you are a bit handy you might be able to fix it yourself with screw bolts, no?

I hear their repair service is very good and they will usually give your bag a general overhaul. If it is beyond repair it should be replaced.

I am surprised however that a bag with perhaps 20 cycles over two years doesn't hold up. There are frequent flyers here that do three cycles a week with their BR and swear by it.

Till