IMS Failure - should I replace the engine?

[soucorp]

I picked up my 986 in April of this year for a project car. I just got my class action letter on this IMS thing, my car only has 35k miles and performs flawless so this is the first I've heard of this. From researching the issue, I found this to be a good read for all of the misconceptions and misunderstandings out there about the IMS problem:

How common are these failures?
It's generally believed to be a small percentage, but this figure is meaningless as it is likely to depend on mileage etc. There are still plenty of low mileage Boxsters out there; these cars could suffer an IMS failure later down the road when they get into the 100k-200k range.

READ FULL:
The Porsche Boxster 986 Enthusiast Guide: Intermediate Shaft (IMS) Bearing Info and Fixes