I have a V-8 system. What do you mean the "balance system" is messed up? Can you explain in detail or show a pic of it. I don't see how the weights on the stabilizer can get messed up so you must be talking about the berrings on it. If that's the case then you're kinda screwed. The good news is you can actually use a Glidecam 2000 or 4000 stabilizer with the V-8 arm and vest. I use the 2000 because it is a tad less bulky.
It looks like you just need ot go to the hardware store and buy 8 new allen head bolts for the top stage. 4 of the bolts go in the holes that line up behind the slots on the sides and the other 4 go in the holes on the bottom that line up with the slots. You should probably just use some gaffers tape on the lower weights to keep them tight if the nuts don't stay tight. That should get it up and running in no time.
I'll take mine out of storage later today and look at it so that I can see what you're talking about. Thanks for posting the pics. I think it's totally fixable from what I see. The only way it wouldn't is if the silver base at the top was broken off which it doesn't look like it is. Like TMF said it could be as simple as buying the parts from the hardware store. As for the weights, it's simple. Just go to the hardware store and buy the shaft for the same size as the brass nut. I don't think you'll have a problem finding that at all. What you're saying is the shaft is stripped, right? If you can't find a shaft the same size find one close to it and use a wingnut instead of the stock brass nut. Let me know if you have anymore questions.