Before you decide either way, check the vent. Two cycles to dry a load is the single most common symptom of a blocked or crushed vent hose, and it is free to check.
Pull the machine out, disconnect the duct, and look at the whole run to the outside including the flap on the wall. Lint packs into the elbows and behind the flap. I have seen a machine that everyone had written off run like new after ten minutes with a brush and a vacuum.
If the vent is clear and the element genuinely is dead, 180 on a twelve year old dryer is reasonable. Dryers are simple machines, the drum and motor outlast everything, and elements and thermostats are the normal wear parts. The rough rule I use is that repairing is worth it up to about half the replacement cost, and 180 against 600 is comfortably inside that.