" thought my power steering went out because it was slipping due to the amount of oil on the belts."

What do you mean by that statement? That you later found out that you had no power stearing boost due to the fact that the engine had quit running ?

Are you saying that when you felt no power for your stearing boost you then looked at the oil pressure guage and it was too low ?

Did your engine quit or did you turn it off with your key ?

The second half of you last post is pretty much on the money...
If you do the work yourself... and frankly it does not sound like you have the mechanical knowledge or tools to do that.... you should be able to rebuild it if only the bearings were toasted... for about $1500...

But finding a good running matching car and buying the whole thing leaves you will lots of good spare parts... and IS usually the cheapest way out...

A good normal mechanic can change out the engines intact... while it takes a really good mechanic or a dedicated Benz freak to do it correctly themselves....

Don't waste your money on the valve setting.... you have bigger problems....