[FWGTO]

I have a 1970 convertible GTO, with factory a/c. I recently purchased the car and the seller had advised me that the a/c did not work. Seller claims that it just needed to be charged. The seller had installed a belt on the compressor. I did not run any checks when I got the car last month. Last weekend we were driving the car (had maybe driven the car 30 miles since I got the car) and all of a sudden smoke poured out from under the hood. The a/c compressor belt was so hot it was boiling. Not a good sign! It appears the bearings in the a/c compressor seized and since the engine was running, it heated the belt up to the point that it melted. Very smelly situation. I cut the belt off and drove home.
My question concernes the compressor. Should I have it rebuilt or replaced? I am not an expert on GTO's and do not know if they were VIN number specific or if they are generic to the model year.
Any thoughts would be appreciated.
Best Regards,
FWGTO.