An aftermarket Q switch is available for the Essence, which also has a single filter control - so, hopefully, the mod. is also possible on your Elan.
Regarding value, you should have the bass checked by a luthier who knows his stuff. If it plays well, sounds good and the luthier says there are no structural issues (e.g. neck problems) and he/she can rectify the cosmetic issues at low cost - it will be good value for money.
David B.