rebuilding a CV axle shaft?

[V]

I'm wondering if I should try to fix/rebuild my current front axle shaft or just buy a new one instead. Car is a 1998 Cadillac STS. No issue with the axle up until it just popped apart one night while the motor/trans/cradle was out of the car. I figure just too much pressure pulling on it from the spindle and such.
The inner boot popped off the section that mounts into the transmission and the axle came apart. From what I've gathered, there is actually nothing that physically holds the shaft into that piece, other than the boot and pressure from the spindle holding it in. If that is the case, can I just pull it out, clean it up, pack it with grease, and throw a new metal clamp ring on it and call it a day?
Now if I would buy a replacement, Rockauto has 3 options for replacements, from 39-51 bucks.
It is also important to note that when it popped out, a very tan liquid poured out. So I guess there had been a leak and water had gotten in there at some point and mixed with the grease. I don't know what it all looks like inside because I have yet to remove it and clean it up. But if I pull it and its shot, I can always order one at that point I guess.

This car will be my daily driver for the next 6 or so months and I've already put enough money into it. So if I could save 40 bucks by using what I have, I'd like to. Plus if its the oem GM axle, perhaps its better than anything I'd buy for 50 bucks.

[sweetbmxrider]

Can you post some pics? You should be able to throw it back together though. If the boot is ripped, obviously it will chuck grease and slowly kill the axle.

[V]

The boot seemed fine, no grease had been thrown out previously. When it did pop off, what flowed out would have definitely came out if there was any sort of rip or tear prior. With my last rockauto order of parts for the car, I just got a dorman universal boot kit(listed to fit the car) which comes with a new boot I probably wont even use, but also the band clamp and a packet of grease. So with some cleaning and repacking, I hope to be OK. That was 17 bucks.

Surprisingly I'm still just under my max budget for this car. I did not want to invest more than 2k into it and I think I'm around 1850 so far. And that's including the purchase price. I just need to install the parts I ordered yesterday and then see how it runs/drives.

No pics of it apart, but here's one shot of it after I shoved it back together to stop the flow.

[sweetbmxrider]

Yeah that looks disgusting. I think you'll be alright. I've had them pull out of the race but never had the boot slip off. Shouldn't be a big deal for you to get back together. I'd go with your plan.

[V]

Today I finally got around to starting the axle shaft repair. I managed to get it all apart without actually having to pull the axle out of the car. The tan grease/water mixture was still pouring out. I got everything cleaned up pretty good and I even pulled apart and cleaned all the needle bearings. Tomorrow I'll finish repacking it with the new grease and then reassemble it. I'll be using the original boot since its in great shape after I cleaned it. I have new band clamps for it though as well as the proper banding tool to secure it.

[V]

All done and back together. Just need to bleed the brakes, charge the battery, and do an oil change and then I can see how it drives.